Meeder Asset Management Inc. Has $7.37 Million Stake in AT&T Inc. (T)

Meeder Asset Management Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,282 shares of the technology company’s stock after selling 4,918 shares during the quarter. AT&T comprises about 0.7% of Meeder Asset Management Inc.’s portfolio, making the stock its 26th biggest position. Meeder Asset Management Inc.’s holdings in AT&T were worth $7,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Schwab Charles Investment Management Inc. lifted its holdings in AT&T by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock valued at $928,960,000 after buying an additional 985,330 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in AT&T by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,915,402 shares of the technology company’s stock valued at $744,385,000 after buying an additional 143,884 shares during the period. Great West Life Assurance Co. Can lifted its holdings in AT&T by 0.8% in the first quarter. Great West Life Assurance Co. Can now owns 8,314,812 shares of the technology company’s stock valued at $345,245,000 after buying an additional 62,384 shares during the period. State of Wisconsin Investment Board lifted its holdings in AT&T by 11.0% in the first quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock valued at $251,456,000 after buying an additional 597,735 shares during the period. Finally, Thomaspartners Inc. lifted its holdings in AT&T by 9.0% in the first quarter. Thomaspartners Inc. now owns 5,712,904 shares of the technology company’s stock valued at $237,371,000 after buying an additional 470,906 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

T has been the topic of a number of research analyst reports. Vetr downgraded shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 target price for the company. in a research report on Friday, October 6th. Morgan Stanley lifted their price objective on shares of AT&T from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 27th. BidaskClub raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, October 11th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $43.00 price objective on shares of AT&T in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.57.

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AT&T Inc. (T) traded down 1.339% during midday trading on Wednesday, reaching $35.745. 24,970,316 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $37.75 and a 200-day moving average of $38.35. AT&T Inc. has a 12 month low of $35.10 and a 12 month high of $43.03. The stock has a market cap of $219.47 billion, a PE ratio of 16.797 and a beta of 0.49.

AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. AT&T’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. On average, equities research analysts predict that AT&T Inc. will post $2.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 5.41%. The ex-dividend date is Friday, October 6th. AT&T’s payout ratio is currently 92.45%.

AT&T Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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