AT&T Inc. (NYSE:T) Shares Sold by Commerzbank Aktiengesellschaft FI

by · The Cerbat Gem

Commerzbank Aktiengesellschaft FI lessened its stake in AT&T Inc. (NYSE:T – Free Report) by 76.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,413,407 shares of the technology company’s stock after selling 4,646,332 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in AT&T were worth $31,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of T. Vanguard Group Inc. increased its stake in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of AT&T by 7.4% in the second 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 in the last quarter. Legal & General Group Plc grew its position in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on T. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Oppenheimer upped their price objective on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada upped 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 upped their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.69.

Check Out Our Latest Analysis on AT&T

AT&T Stock Performance

NYSE:T opened at $21.86 on Wednesday. The firm has a market capitalization of $156.74 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The business’s fifty day moving average price is $21.03 and its 200 day moving average price is $19.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.34.

AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company 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 quarter last year, the company posted $0.63 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 63.79%.

AT&T Company 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.

Recommended Stories