Mercer Global Advisors Inc. ADV Reduces Holdings in AT&T Inc. (NYSE:T)

Mercer Global Advisors Inc. ADV reduced its holdings in shares of AT&T Inc. (NYSE:T) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 646,337 shares of the technology company’s stock after selling 79,943 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in AT&T were worth $18,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of T. BlackRock Inc. boosted its stake in shares of AT&T by 1.3% during the 1st quarter. BlackRock Inc. now owns 492,116,917 shares of the technology company’s stock worth $14,896,379,000 after purchasing an additional 6,548,263 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 115,702,320 shares of the technology company’s stock worth $3,492,776,000 after purchasing an additional 3,240,700 shares during the last quarter. Swiss National Bank boosted its stake in shares of AT&T by 1.8% during the 1st quarter. Swiss National Bank now owns 29,679,137 shares of the technology company’s stock worth $898,387,000 after purchasing an additional 524,200 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of AT&T by 9.5% during the 1st quarter. Nordea Investment Management AB now owns 28,671,144 shares of the technology company’s stock worth $871,890,000 after purchasing an additional 2,486,443 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of AT&T by 3.2% in the first quarter. UBS Asset Management Americas Inc. now owns 28,242,777 shares of the technology company’s stock worth $854,909,000 after acquiring an additional 874,730 shares during the last quarter. Hedge funds and other institutional investors own 51.61% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of AT&T in a research report on Thursday, July 22nd. They issued a “hold” rating and a $30.00 target price on the stock. UBS Group raised shares of AT&T from a “neutral” rating to a “buy” rating and raised their target price for the stock from $32.00 to $35.00 in a research report on Friday, May 21st. Citigroup cut their price target on shares of AT&T from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, August 31st. Scotiabank upgraded shares of AT&T from a “sector underperform” rating to a “sector perform” rating and raised their price target for the company from $28.00 to $31.00 in a report on Wednesday, June 16th. Finally, Morgan Stanley lowered shares of AT&T to an “equal weight” rating and set a $29.00 price target on the stock. in a report on Friday, July 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.16.

Shares of NYSE:T opened at $27.35 on Wednesday. The firm has a market cap of $195.28 billion, a PE ratio of -88.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a fifty day simple moving average of $27.86 and a 200 day simple moving average of $29.23. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. AT&T Inc. has a 12-month low of $26.35 and a 12-month high of $33.88.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 21st. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $44.05 billion during the quarter, compared to the consensus estimate of $42.39 billion. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 3.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date was Thursday, July 8th. AT&T’s dividend payout ratio is presently 65.41%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

Further Reading: What is Liquidity?

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

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