StoneX Group Inc. Increases Stake in AT&T Inc. (NYSE:T)

StoneX Group Inc. lifted its position in shares of AT&T Inc. (NYSE:T) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,059 shares of the technology company’s stock after purchasing an additional 583 shares during the quarter. StoneX Group Inc.’s holdings in AT&T were worth $2,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings 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 worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc increased its position in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares during the period. LSV Asset Management lifted its position in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after buying an additional 315,580 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after acquiring an additional 675,082 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

Shares of T opened at $23.18 on Friday. The company’s 50-day moving average price is $22.02 and its 200 day moving average price is $19.94. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.29. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market cap of $166.32 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, Oppenheimer boosted their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $23.40.

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.