Foster Group Inc. Increases Stock Holdings in AT&T Inc. (NYSE:T)

Foster Group Inc. lifted its holdings in AT&T Inc. (NYSE:T) by 5.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,999 shares of the technology company’s stock after purchasing an additional 1,087 shares during the period. Foster Group Inc.’s holdings in AT&T were worth $420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Vanguard Group Inc. grew its position in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.4% in 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 purchasing an additional 5,592,123 shares during the last quarter. Norges Bank acquired a new stake in shares of AT&T in the 4th quarter valued at $1,118,288,000. Charles Schwab Investment Management Inc. lifted its position in shares of AT&T by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after purchasing an additional 798,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after purchasing an additional 1,137,792 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on T shares. Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Oppenheimer lifted their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Price Performance

T traded up $0.14 during trading on Friday, reaching $19.90. 29,362,657 shares of the stock were exchanged, compared to its average volume of 35,488,664. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $19.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The business’s 50 day moving average price is $19.14 and its two-hundred day moving average price is $17.88. The company has a market capitalization of $142.69 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 3.26 and a beta of 0.58.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.58%. AT&T’s dividend payout ratio is presently 59.68%.

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.