AT&T Inc. (NYSE:T) Shares Purchased by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. grew its holdings in shares of AT&T Inc. (NYSE:T) by 6.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,864 shares of the technology company’s stock after purchasing an additional 703 shares during the period. New Covenant Trust Company N.A.’s holdings in AT&T were worth $260,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV raised its holdings in shares of AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its position in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the period. Bank of New York Mellon Corp raised its stake in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. boosted its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in shares of AT&T in the second quarter worth $78,570,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 1.9 %

Shares of NYSE T opened at $22.12 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73. The business has a 50-day moving average price of $21.47 and a two-hundred day moving average price of $19.33. The firm has a market capitalization of $158.72 billion, a PE ratio of 17.98, a PEG ratio of 3.38 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Tigress Financial lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Oppenheimer raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.