Van ECK Associates Corp Acquires 54,078 Shares of AT&T Inc. (NYSE:T)

Van ECK Associates Corp increased its holdings in shares of AT&T Inc. (NYSE:TFree Report) by 17.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371,841 shares of the technology company’s stock after buying an additional 54,078 shares during the period. Van ECK Associates Corp’s holdings in AT&T were worth $6,544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of T. Lido Advisors LLC boosted its holdings in shares of AT&T by 3.4% in the third quarter. Lido Advisors LLC now owns 313,247 shares of the technology company’s stock valued at $4,705,000 after buying an additional 10,287 shares during the period. Legacy Advisors LLC acquired a new position in shares of AT&T in the third quarter valued at approximately $421,000. Sei Investments Co. lifted its position in shares of AT&T by 9.5% in the third quarter. Sei Investments Co. now owns 1,980,910 shares of the technology company’s stock worth $29,756,000 after purchasing an additional 172,079 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of AT&T by 5.1% in the third quarter. Scotia Capital Inc. now owns 913,657 shares of the technology company’s stock worth $13,724,000 after purchasing an additional 44,528 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of AT&T by 8.8% in the third quarter. Royal London Asset Management Ltd. now owns 3,453,762 shares of the technology company’s stock worth $51,893,000 after purchasing an additional 280,522 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on T. UBS Group reissued a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Scotiabank upped their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.73.

Check Out Our Latest Analysis on T

AT&T Price Performance

Shares of T opened at $18.77 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company’s 50-day moving average is $17.79 and its 200-day moving average is $17.25. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.32. The firm has a market capitalization of $134.58 billion, a PE ratio of 10.09, a PEG ratio of 4.24 and a beta of 0.58.

AT&T (NYSE:TGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the prior year, the company posted $0.60 earnings per share. AT&T’s revenue was down .4% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.91%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

(Free Report)

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.

See Also

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

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