TIAA Trust National Association Buys 25,155 Shares of AT&T Inc. (NYSE:T)

TIAA Trust National Association grew its position in AT&T Inc. (NYSE:T) by 11.0% during the 1st quarter, Holdings Channel reports. The firm owned 253,244 shares of the technology company’s stock after purchasing an additional 25,155 shares during the quarter. TIAA Trust National Association’s holdings in AT&T were worth $4,457,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in T. Vanguard Group Inc. increased its holdings in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Spirepoint Private Client LLC bought a new stake in shares of AT&T during the first quarter worth $227,000. Nicolet Advisory Services LLC increased its stake in shares of AT&T by 2.0% in the first quarter. Nicolet Advisory Services LLC now owns 57,513 shares of the technology company’s stock valued at $972,000 after buying an additional 1,104 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its stake in shares of AT&T by 6.5% in the first quarter. Te Ahumairangi Investment Management Ltd now owns 681,554 shares of the technology company’s stock valued at $11,995,000 after buying an additional 41,420 shares in the last quarter. Finally, Towercrest Capital Management raised its holdings in shares of AT&T by 2.1% in the first quarter. Towercrest Capital Management now owns 30,662 shares of the technology company’s stock valued at $540,000 after buying an additional 620 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 2.4 %

NYSE:T traded down $0.45 during mid-day trading on Monday, hitting $18.67. The company had a trading volume of 25,178,777 shares, compared to its average volume of 36,165,078. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a fifty-two week low of $13.89 and a fifty-two week high of $19.33. The firm has a market cap of $133.87 billion, a P/E ratio of 10.01, a P/E/G ratio of 3.61 and a beta of 0.58. The business’s fifty day moving average is $18.17 and its two-hundred day moving average is $17.41.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. As a group, research analysts expect that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.95%. AT&T’s dividend payout ratio is 59.68%.

Analysts Set New Price Targets

A number of equities research analysts have commented on T shares. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 target price on shares of AT&T in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.85.

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.