Canada Pension Plan Investment Board Boosts Stock Position in AT&T Inc. (NYSE:T)

Canada Pension Plan Investment Board increased its stake in AT&T Inc. (NYSE:T) by 110.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,155,046 shares of the technology company’s stock after buying an additional 3,228,888 shares during the period. Canada Pension Plan Investment Board’s holdings in AT&T were worth $117,623,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Joseph Group Capital Management lifted its position in shares of AT&T by 11.8% during the second quarter. Joseph Group Capital Management now owns 178,985 shares of the technology company’s stock worth $3,420,000 after purchasing an additional 18,888 shares during the last quarter. Wealth Advisors of Tampa Bay LLC raised its stake in AT&T by 5.7% during the second quarter. Wealth Advisors of Tampa Bay LLC now owns 190,890 shares of the technology company’s stock valued at $3,648,000 after buying an additional 10,240 shares in the last quarter. Trust Investment Advisors lifted its holdings in AT&T by 51.4% during the 2nd quarter. Trust Investment Advisors now owns 48,856 shares of the technology company’s stock worth $934,000 after buying an additional 16,585 shares during the last quarter. Ieq Capital LLC grew its position in shares of AT&T by 30.9% in the 2nd quarter. Ieq Capital LLC now owns 317,047 shares of the technology company’s stock worth $6,059,000 after acquiring an additional 74,764 shares in the last quarter. Finally, Cowa LLC lifted its stake in AT&T by 70.9% during the second quarter. Cowa LLC now owns 45,760 shares of the technology company’s stock worth $874,000 after purchasing an additional 18,977 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

T opened at $21.52 on Friday. The firm has a market capitalization of $154.30 billion, a P/E ratio of 11.57, a PEG ratio of 3.79 and a beta of 0.59. The stock has a fifty day moving average of $19.88 and a 200-day moving average of $18.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm 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 business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. Equities analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Barclays increased their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada upped their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.31.

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.