Sumitomo Mitsui Trust Group Inc. Has $378.81 Million Holdings in AT&T Inc. (NYSE:T)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of AT&T Inc. (NYSE:T) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,218,490 shares of the technology company’s stock after acquiring an additional 1,206,330 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of AT&T worth $378,807,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of AT&T during the third quarter worth about $35,000. Altshuler Shaham Ltd acquired a new position in shares of AT&T in the second quarter valued at approximately $30,000. Finally, Marquette Asset Management LLC bought a new position in AT&T in the 3rd quarter valued at approximately $36,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.1 %

T stock opened at $22.31 on Tuesday. The stock has a market cap of $160.08 billion, a P/E ratio of 18.14, a P/E/G ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.51 and a 1-year high of $22.73. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $21.75 and its two-hundred day simple moving average is $19.60.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on T. Oppenheimer lifted their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays increased their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Finally, Citigroup lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Company 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.