DekaBank Deutsche Girozentrale Buys 94,566 Shares of AT&T Inc. (NYSE:T)

DekaBank Deutsche Girozentrale lifted its position in AT&T Inc. (NYSE:T) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,402,421 shares of the technology company’s stock after purchasing an additional 94,566 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in AT&T were worth $42,157,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Peninsula Wealth LLC bought a new stake in AT&T during the first quarter worth about $474,000. Soltis Investment Advisors LLC boosted its holdings in shares of AT&T by 44.2% in the 1st quarter. Soltis Investment Advisors LLC now owns 96,148 shares of the technology company’s stock worth $1,692,000 after acquiring an additional 29,460 shares in the last quarter. Alexander Labrunerie & CO. Inc. bought a new stake in AT&T during the 1st quarter worth approximately $336,000. Goldentree Asset Management LP acquired a new stake in AT&T during the 1st quarter valued at $38,492,000. Finally, Cetera Advisor Networks LLC raised its position in AT&T by 2.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,354,890 shares of the technology company’s stock valued at $23,846,000 after purchasing an additional 35,252 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 0.5 %

T traded down $0.10 during trading on Friday, hitting $19.37. The company had a trading volume of 45,240,116 shares, compared to its average volume of 37,305,292. The firm’s 50-day moving average price is $18.49 and its 200 day moving average price is $17.56. The company has a market capitalization of $138.89 billion, a PE ratio of 10.41, a PEG ratio of 3.28 and a beta of 0.58. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a one year low of $13.89 and a one year high of $19.99.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on T. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Scotiabank increased their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Oppenheimer increased their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Seven equities research 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 company currently has an average rating of “Moderate Buy” and an average price target of $22.33.

AT&T 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.