AT&T Inc. (NYSE:T) Position Boosted by Legal & General Group Plc

Legal & General Group Plc lifted its stake in AT&T Inc. (NYSE:T) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,109,127 shares of the technology company’s stock after purchasing an additional 1,569,374 shares during the quarter. Legal & General Group Plc owned 0.84% of AT&T worth $1,148,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Mackenzie Financial Corp raised its stake in shares of AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of AT&T during the 2nd quarter worth $2,952,000. MBB Public Markets I LLC bought a new position in shares of AT&T during the 2nd quarter valued at $9,836,000. Daymark Wealth Partners LLC lifted its stake in shares of AT&T by 29.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 26,966 shares of the technology company’s stock valued at $515,000 after purchasing an additional 6,176 shares during the last quarter. Finally, Delta Investment Management LLC increased its position in AT&T by 19.3% during the second quarter. Delta Investment Management LLC now owns 12,139 shares of the technology company’s stock worth $232,000 after buying an additional 1,962 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on T shares. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen increased their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Moffett Nathanson increased their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.31.

AT&T Price Performance

Shares of T stock opened at $21.66 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $155.31 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 3.66 and a beta of 0.59. The firm’s 50 day moving average is $20.09 and its 200-day moving average is $18.46. AT&T Inc. has a 1 year low of $14.12 and a 1 year 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, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for 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 earned $0.63 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Company Profile

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.