Swedbank AB Acquires 219,382 Shares of AT&T Inc. (NYSE:T)

Swedbank AB raised its position in AT&T Inc. (NYSE:T) by 7.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,299,715 shares of the technology company’s stock after acquiring an additional 219,382 shares during the period. Swedbank AB’s holdings in AT&T were worth $72,594,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC grew its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Citigroup increased 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. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.69.

AT&T Stock Performance

Shares of T opened at $21.53 on Wednesday. The business’s fifty day simple moving average is $20.81 and its two-hundred day simple moving average is $18.89. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.23 and a 12 month high of $22.34. The company has a market cap of $154.34 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 3.62 and a beta of 0.60.

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

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. AT&T’s dividend payout ratio is currently 59.68%.

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.