Healthcare of Ontario Pension Plan Trust Fund Cuts Position in AT&T Inc. (NYSE:T)

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in AT&T Inc. (NYSE:TGet Rating) by 97.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 68,863 shares of the technology company’s stock after selling 2,709,137 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AT&T were worth $1,443,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in AT&T by 2.3% in the first quarter. Vanguard Group Inc. now owns 585,666,367 shares of the technology company’s stock valued at $13,839,297,000 after acquiring an additional 13,066,523 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in AT&T by 71.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,743,313 shares of the technology company’s stock valued at $561,054,000 after acquiring an additional 9,921,029 shares in the last quarter. Capital World Investors grew its position in AT&T by 18.5% in the first quarter. Capital World Investors now owns 55,989,998 shares of the technology company’s stock valued at $1,323,044,000 after acquiring an additional 8,729,013 shares in the last quarter. BlackRock Inc. grew its position in AT&T by 1.1% in the first quarter. BlackRock Inc. now owns 521,448,502 shares of the technology company’s stock valued at $12,321,826,000 after acquiring an additional 5,777,961 shares in the last quarter. Finally, Swiss National Bank grew its position in AT&T by 14.0% in the first quarter. Swiss National Bank now owns 30,929,662 shares of the technology company’s stock valued at $730,868,000 after acquiring an additional 3,790,800 shares in the last quarter. Hedge funds and other institutional investors own 52.88% of the company’s stock.

AT&T Stock Performance

T stock opened at $19.09 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $136.05 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 2.16 and a beta of 0.61. AT&T Inc. has a 1 year low of $14.46 and a 1 year high of $21.53. The stock’s fifty day moving average is $17.06 and its two-hundred day moving average is $18.60.

AT&T (NYSE:TGet Rating) last posted its earnings results on Thursday, October 20th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. AT&T had a return on equity of 13.24% and a net margin of 14.44%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $29.86 billion. During the same period last year, the business posted $0.87 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.64 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend was Thursday, October 6th. AT&T’s dividend payout ratio is currently 41.11%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on T. Barclays increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, October 24th. Wells Fargo & Company decreased their price target on shares of AT&T from $22.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, October 7th. Truist Financial raised shares of AT&T from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Friday, October 21st. Raymond James raised shares of AT&T from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $26.00 to $24.00 in a research report on Monday, October 24th. Finally, Morgan Stanley decreased their price target on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

About AT&T

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

Further Reading

Institutional Ownership by Quarter for AT&T (NYSE:T)

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