Teachers Insurance & Annuity Association of America Buys New Holdings in AT&T Inc. (NYSE:T)

by · The Cerbat Gem

Teachers Insurance & Annuity Association of America purchased a new position in shares of AT&T Inc. (NYSE:T – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,581 shares of the technology company’s stock, valued at approximately $145,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. grew its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in AT&T in the 2nd quarter valued at $78,570,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on T shares. Barclays raised their target price on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Oppenheimer upped their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Citigroup boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

Get Our Latest Stock Analysis on AT&T

AT&T Stock Up 0.8 %

AT&T stock traded up $0.18 during mid-day trading on Thursday, reaching $23.27. The company’s stock had a trading volume of 33,201,739 shares, compared to its average volume of 35,443,195. The business’s 50 day simple moving average is $22.10 and its 200 day simple moving average is $20.07. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.38. The company has a market capitalization of $166.97 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59.

AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.77%. AT&T’s payout ratio is 90.24%.

AT&T Profile

(Free Report)

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.

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