AT&T Inc. (NYSE:T) Shares Acquired by Vestcor Inc

Vestcor Inc boosted its position in AT&T Inc. (NYSE:T) by 14.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 786,772 shares of the technology company’s stock after purchasing an additional 101,087 shares during the period. Vestcor Inc’s holdings in AT&T were worth $17,309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new stake in shares of AT&T in the 2nd quarter worth approximately $23,888,000. Swiss National Bank grew its position in AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the last quarter. Caprock Group LLC increased its holdings in shares of AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after buying an additional 30,281 shares in the last quarter. Talbot Financial LLC acquired a new stake in shares of AT&T during the 3rd quarter valued at $7,438,000. Finally, Mackenzie Financial Corp boosted its stake in shares of AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Moffett Nathanson lifted their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.73.

AT&T Stock Performance

Shares of T opened at $23.38 on Tuesday. The company has a market capitalization of $167.76 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.63 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. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company’s fifty day moving average price is $22.39 and its 200 day moving average price is $20.43.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during 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%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.19 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 issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.75%. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.