AT&T Inc. (NYSE:T) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its position in shares of AT&T Inc. (NYSE:T) by 2.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 945,567 shares of the technology company’s stock after purchasing an additional 25,502 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in AT&T were worth $20,802,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in T. Mercer Global Advisors Inc. ADV increased its holdings in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% in the second 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 stake 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 valued at $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of AT&T in the 2nd quarter valued at about $78,570,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T traded down $0.25 during midday trading on Thursday, reaching $22.07. The company’s stock had a trading volume of 4,656,789 shares, compared to its average volume of 35,518,164. AT&T Inc. has a twelve month low of $15.46 and a twelve month high of $22.73. The stock has a market cap of $158.36 billion, a P/E ratio of 18.15, a PEG ratio of 3.29 and a beta of 0.59. The company has a fifty day simple moving average of $21.61 and a 200 day simple moving average of $19.46. 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 (NYSE:T) last announced its 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. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.03%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is presently 90.24%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on T shares. Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup upped their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

About AT&T

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.