Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in AT&T Inc. (NYSE:T)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AT&T Inc. (NYSE:T) by 15.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,606,959 shares of the technology company’s stock after buying an additional 624,304 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AT&T were worth $101,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Reston Wealth Management LLC purchased a new position in AT&T during the 3rd quarter worth $35,000. Finally, Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter valued at $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T opened at $23.27 on Thursday. The firm has a market capitalization of $166.97 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business’s 50 day simple moving average is $22.10 and its 200-day simple moving average is $20.07. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.38.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Oppenheimer raised their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Finally, Barclays boosted their price objective on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

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.