AT&T Inc. $T is Cullen Capital Management LLC’s 10th Largest Position

Cullen Capital Management LLC boosted its holdings in AT&T Inc. (NYSE:T) by 24.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,944,442 shares of the technology company’s stock after buying an additional 1,585,220 shares during the quarter. AT&T makes up about 2.6% of Cullen Capital Management LLC’s holdings, making the stock its 10th largest position. Cullen Capital Management LLC owned 0.11% of AT&T worth $229,912,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of T. Vanguard Group Inc. grew its stake in 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 buying an additional 10,310,560 shares during the last quarter. State Street Corp lifted its position in AT&T by 2.4% in 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 purchasing an additional 7,404,376 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the second quarter valued at approximately $5,266,758,000. Geode Capital Management LLC increased its holdings in shares of AT&T by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after purchasing an additional 2,066,026 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of AT&T during the 2nd quarter valued at approximately $2,228,655,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $24.57 on Monday. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. 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 company’s 50 day simple moving average is $25.41 and its 200 day simple moving average is $27.26. The firm has a market capitalization of $174.20 billion, a PE ratio of 7.98, a P/E/G ratio of 1.44 and a beta of 0.38.

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

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank Of Canada cut their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. Finally, UBS Group reiterated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.55.

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.