Skandinaviska Enskilda Banken AB publ Increases Stock Holdings in AT&T Inc. (NYSE:T)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of AT&T Inc. (NYSE:T) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,488,655 shares of the technology company’s stock after purchasing an additional 103,786 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AT&T were worth $47,558,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of T. AE Wealth Management LLC boosted its holdings in AT&T by 17.1% in the 2nd quarter. AE Wealth Management LLC now owns 1,875,722 shares of the technology company’s stock valued at $35,845,000 after purchasing an additional 273,369 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in shares of AT&T by 1.5% in the second quarter. Bridges Investment Management Inc. now owns 41,764 shares of the technology company’s stock valued at $798,000 after buying an additional 621 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in AT&T by 110.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after acquiring an additional 3,228,888 shares during the period. Joseph Group Capital Management raised its position in AT&T by 11.8% in the second quarter. Joseph Group Capital Management now owns 178,985 shares of the technology company’s stock worth $3,420,000 after acquiring an additional 18,888 shares in the last quarter. Finally, Wealth Advisors of Tampa Bay LLC lifted its holdings in AT&T by 5.7% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 190,890 shares of the technology company’s stock valued at $3,648,000 after acquiring an additional 10,240 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

T stock opened at $21.35 on Friday. The company has a market cap of $153.08 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 3.79 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. The stock has a 50-day moving average price of $19.82 and a two-hundred day moving average price of $18.30. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.20%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Evercore ISI lifted their price objective on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. UBS Group restated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Finally, Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.