AIA Group Ltd Has $6.95 Million Stock Holdings in AT&T Inc. (NYSE:T)

AIA Group Ltd trimmed its stake in shares of AT&T Inc. (NYSE:T) by 16.7% in the third quarter, HoldingsChannel reports. The firm owned 315,982 shares of the technology company’s stock after selling 63,225 shares during the quarter. AIA Group Ltd’s holdings in AT&T were worth $6,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% during the second 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 buying an additional 5,592,123 shares in the last quarter. Legal & General Group Plc boosted 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 acquiring an additional 1,569,374 shares during the period. Ameriprise Financial Inc. grew its stake in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management increased its position in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after acquiring an additional 315,580 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

T stock opened at $22.05 on Friday. The stock has a market cap of $158.22 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 3.29 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. The company has a 50 day simple moving average of $21.61 and a 200 day simple moving average of $19.46. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.03%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

T has been the topic of a number of analyst reports. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Barclays raised their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Evercore ISI increased their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.