DekaBank Deutsche Girozentrale Acquires 8,541 Shares of AT&T Inc. (NYSE:T)

DekaBank Deutsche Girozentrale grew its stake in AT&T Inc. (NYSE:T) by 0.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,390,279 shares of the technology company’s stock after purchasing an additional 8,541 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in AT&T were worth $52,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Davidson Kempner Capital Management LP acquired a new stake in AT&T in the second quarter valued at $23,888,000. Talbot Financial LLC acquired a new stake in AT&T in the 3rd quarter valued at about $7,438,000. Mackenzie Financial Corp grew its holdings in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC increased its position in AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after buying an additional 90,255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on T shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Wells Fargo & Company reduced their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Oppenheimer increased their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

Shares of NYSE:T opened at $21.83 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $156.52 billion, a PE ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The firm has a 50 day moving average of $21.20 and a 200-day moving average of $19.15. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.58.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.