Acadian Asset Management LLC Has $15.72 Million Stock Holdings in AT&T Inc. (NYSE:T)

Acadian Asset Management LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 202.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 822,797 shares of the technology company’s stock after purchasing an additional 550,583 shares during the quarter. Acadian Asset Management LLC’s holdings in AT&T were worth $15,718,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Norges Bank bought a new stake in AT&T during the fourth quarter worth $1,118,288,000. Thornburg Investment Management Inc. acquired a new position in shares of AT&T during the 4th quarter worth about $316,472,000. Kodai Capital Management LP bought a new stake in shares of AT&T in the 4th quarter valued at about $152,109,000. Bank of New York Mellon Corp lifted its stake 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 valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $21.50 on Tuesday. The business has a fifty day moving average price of $19.36 and a two-hundred day moving average price of $18.05. The stock has a market capitalization of $154.16 billion, a PE ratio of 11.56, a P/E/G ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $21.60.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. AT&T’s dividend payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on T. The Goldman Sachs Group began coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Evercore ISI raised their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Barclays lifted their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

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.