ING Groep NV Has $34.36 Million Stock Position in AT&T Inc. (NYSE:T)

ING Groep NV lowered its stake in AT&T Inc. (NYSE:T) by 38.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,562,008 shares of the technology company’s stock after selling 968,916 shares during the quarter. ING Groep NV’s holdings in AT&T were worth $34,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davidson Kempner Capital Management LP acquired a new stake in shares of AT&T during the second quarter worth approximately $23,888,000. Talbot Financial LLC purchased a new stake in AT&T in the 3rd quarter worth approximately $7,438,000. Mackenzie Financial Corp boosted its stake in shares of AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares during the period. DRW Securities LLC boosted its stake in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of AT&T by 7.2% during the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after acquiring an additional 26,706 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Oppenheimer lifted 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Up 0.4 %

Shares of AT&T stock traded up $0.10 on Thursday, hitting $22.40. The company had a trading volume of 6,307,374 shares, compared to its average volume of 35,427,891. The stock has a 50-day moving average of $21.82 and a 200-day moving average of $19.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a twelve month low of $15.64 and a twelve month high of $22.73. The firm has a market capitalization of $160.73 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.33 and a beta of 0.59.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.96%. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.