AQR Capital Management LLC Has $438.56 Million Holdings in AT&T Inc. $T

AQR Capital Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 18.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,328,747 shares of the technology company’s stock after selling 3,365,961 shares during the period. AQR Capital Management LLC owned approximately 0.21% of AT&T worth $438,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in T. Vanguard Group Inc. boosted its position in shares of AT&T by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after purchasing an additional 10,310,560 shares in the last quarter. State Street Corp increased its holdings in AT&T by 2.4% during the 2nd quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock worth $9,291,781,000 after purchasing an additional 7,404,376 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the second quarter valued at about $5,266,758,000. Geode Capital Management LLC grew its holdings in shares of AT&T by 1.2% in the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after acquiring an additional 2,066,026 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AT&T during the second quarter valued at approximately $2,228,655,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Royal Bank Of Canada lowered their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Scotiabank set a $30.25 price objective on AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.55.

AT&T Stock Up 1.1%

T stock opened at $24.57 on Friday. The firm has a 50 day simple moving average of $25.41 and a 200-day simple moving average of $27.26. The company has a market capitalization of $174.20 billion, a P/E ratio of 7.98, a PEG ratio of 1.42 and a beta of 0.38. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter last year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.