659,661 Shares in AT&T Inc. (NYSE:T) Bought by AMF Tjanstepension AB

AMF Tjanstepension AB purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 659,661 shares of the technology company’s stock, valued at approximately $11,610,000.

Several other large investors have also added to or reduced their stakes in T. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the 4th quarter valued at about $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at about $25,000. Ramirez Asset Management Inc. acquired a new position in shares of AT&T in the 3rd quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new position in shares of AT&T in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $19.13 on Friday. The business has a 50 day simple moving average of $17.57 and a two-hundred day simple moving average of $17.17. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.13. The stock has a market capitalization of $137.17 billion, a P/E ratio of 10.28, a PEG ratio of 4.26 and a beta of 0.60. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.80%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on T shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. 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. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $21.71.

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.