BNP Paribas Increases Stake in AT&T Inc. $T

BNP Paribas lifted its position in AT&T Inc. (NYSE:T) by 3,473.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,616 shares of the technology company’s stock after acquiring an additional 422,454 shares during the quarter. BNP Paribas’ holdings in AT&T were worth $12,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Denali Advisors LLC raised its holdings in AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares in the last quarter. Tredje AP fonden grew its position in shares of AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after buying an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. bought a new position in shares of AT&T during the 2nd quarter worth approximately $489,000. Finally, Sentry Investment Management LLC lifted its position in AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after acquiring an additional 13,370 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

NYSE T opened at $24.42 on Thursday. The company has a market cap of $173.09 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.43 and a beta of 0.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock’s fifty day moving average price is $25.51 and its 200 day moving average price is $27.30. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is 36.04%.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. Williams Trading set a $33.00 price objective on AT&T in a research report on Thursday, October 23rd. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.55.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.