AT&T Inc. $T Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its stake in shares of AT&T Inc. (NYSE:T) by 8.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,247,484 shares of the technology company’s stock after acquiring an additional 4,404,688 shares during the period. Ameriprise Financial Inc. owned 0.77% of AT&T worth $1,598,697,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages have weighed in on T. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Wall Street Zen lowered AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Sanford C. Bernstein upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $30.55.

AT&T Stock Performance

Shares of NYSE:T opened at $24.57 on Friday. The firm has a market capitalization of $174.20 billion, a PE ratio of 7.98, a P/E/G ratio of 1.42 and a beta of 0.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The business has a 50-day moving average of $25.41 and a two-hundred day moving average of $27.26. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the company posted $0.60 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

AT&T Profile

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.