Forsta AP Fonden Grows Holdings in AT&T Inc. (NYSE:T)

Forsta AP Fonden boosted its holdings in shares of AT&T Inc. (NYSE:T) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,009,000 shares of the technology company’s stock after purchasing an additional 48,900 shares during the period. Forsta AP Fonden’s holdings in AT&T were worth $38,392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of 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 holdings in AT&T by 7.4% during the second 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 during the period. Norges Bank purchased a new position in AT&T in the fourth quarter worth $1,118,288,000. LSV Asset Management lifted its holdings in 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 acquiring an additional 315,580 shares during the period. Finally, Thornburg Investment Management Inc. boosted its position in shares of AT&T by 8.6% during the 1st quarter. Thornburg Investment Management Inc. now owns 20,476,671 shares of the technology company’s stock worth $360,389,000 after purchasing an additional 1,616,598 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 1.2 %

AT&T stock opened at $21.45 on Thursday. The stock has a 50-day moving average price of $19.47 and a 200 day moving average price of $18.11. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $21.86. The stock has a market cap of $153.80 billion, a PE ratio of 11.53, a P/E/G ratio of 3.57 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.17%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $22.31.

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.