AT&T Inc. (NYSE:T) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its stake in AT&T Inc. (NYSE:T) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 700,577 shares of the technology company’s stock after acquiring an additional 18,869 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in AT&T were worth $13,388,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its position in 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 grew its holdings in AT&T by 43.3% in the 2nd 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 increased its position in 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 valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the period. Point72 Asset Management L.P. raised its stake in AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after acquiring an additional 4,970,954 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted 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 period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of T stock opened at $22.13 on Wednesday. The stock’s fifty day simple moving average is $20.29 and its 200-day simple moving average is $18.58. The company has a market capitalization of $158.68 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 3.75 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 Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

AT&T (NYSE:T) last issued its 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. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 5.02%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, AT&T has an average rating of “Hold” and a consensus target price of $22.38.

About AT&T

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.