BI Asset Management Fondsmaeglerselskab A S Has $3.49 Million Stake in AT&T Inc. (NYSE:T)

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in AT&T Inc. (NYSE:T) by 51.3% during the first quarter, Holdings Channel reports. The fund owned 198,102 shares of the technology company’s stock after purchasing an additional 67,142 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in AT&T were worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in AT&T in the 4th quarter valued at $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in shares of AT&T in the fourth quarter valued at about $316,472,000. Kodai Capital Management LP acquired a new position in shares of AT&T in the fourth quarter valued at about $152,109,000. Point72 Asset Management L.P. increased its position in AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after acquiring an additional 4,970,954 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after purchasing an additional 4,014,873 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.5 %

T stock traded up $0.10 during midday trading on Wednesday, hitting $18.62. The stock had a trading volume of 9,217,213 shares, compared to its average volume of 36,286,055. The firm has a market cap of $133.51 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The business has a fifty day moving average price of $17.87 and a two-hundred day moving average price of $17.29.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on T shares. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Scotiabank lifted their price objective on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Finally, StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.81.

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.