IFM Investors Pty Ltd Has $26.58 Million Holdings in AT&T Inc. (NYSE:T)

IFM Investors Pty Ltd increased its stake in shares of AT&T Inc. (NYSE:TGet Rating) by 20.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,124,683 shares of the technology company’s stock after purchasing an additional 187,921 shares during the period. IFM Investors Pty Ltd’s holdings in AT&T were worth $26,576,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Keel Point LLC lifted its holdings in AT&T by 8.8% during the fourth quarter. Keel Point LLC now owns 11,223 shares of the technology company’s stock worth $276,000 after acquiring an additional 912 shares in the last quarter. Osborne Partners Capital Management LLC lifted its holdings in shares of AT&T by 4.0% in the fourth quarter. Osborne Partners Capital Management LLC now owns 13,984 shares of the technology company’s stock valued at $344,000 after purchasing an additional 536 shares in the last quarter. Riverwater Partners LLC bought a new stake in shares of AT&T in the fourth quarter valued at about $268,000. CWM LLC bought a new stake in shares of AT&T in the fourth quarter valued at about $29,245,000. Finally, Dfpg Investments LLC bought a new stake in shares of AT&T in the fourth quarter valued at about $212,000. 53.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Citigroup lowered their price target on AT&T from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Royal Bank of Canada lowered their price target on AT&T from $30.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Monday, April 25th. UBS Group lowered their price target on AT&T from $25.00 to $24.00 and set a “maintains” rating on the stock in a research report on Friday, July 22nd. Finally, Truist Financial lowered their price target on AT&T to $21.00 in a research report on Friday, July 22nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Hold” and an average target price of $23.17.

AT&T Stock Up 1.1 %

Shares of T opened at $18.78 on Monday. AT&T Inc. has a 52 week low of $16.62 and a 52 week high of $21.55. The stock has a market capitalization of $134.45 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.65 and a current ratio of 0.72. The stock has a fifty day moving average of $20.38 and a 200-day moving average of $21.90.

AT&T (NYSE:TGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. AT&T had a return on equity of 13.09% and a net margin of 13.41%. The company had revenue of $29.64 billion during the quarter, compared to analysts’ expectations of $29.48 billion. During the same period in the prior year, the company earned $0.89 EPS. AT&T’s revenue was down 17.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.5 earnings per share for the current fiscal year.

AT&T Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 11th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a yield of 5.91%. AT&T’s payout ratio is 40.81%.

AT&T Company Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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

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