AMF Tjanstepension AB Acquires 1,161,152 Shares of AT&T Inc. (NYSE:T)

AMF Tjanstepension AB lifted its position in shares of AT&T Inc. (NYSE:T) by 305.1% during the third quarter, Holdings Channel reports. The firm owned 1,541,724 shares of the technology company’s stock after acquiring an additional 1,161,152 shares during the period. AMF Tjanstepension AB’s holdings in AT&T were worth $33,918,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp increased its position in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc grew its position in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after buying an additional 1,569,374 shares during the period. Ameriprise Financial Inc. grew its position in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares during the period. Finally, LSV Asset Management boosted its stake in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 0.3 %

T opened at $22.20 on Thursday. AT&T Inc. has a one year low of $14.12 and a one year high of $22.34. The company has a market cap of $159.14 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 3.75 and a beta of 0.59. The business’s fifty day moving average is $20.35 and its two-hundred day moving average is $18.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. Analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on T. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays lifted their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

About AT&T

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.