Robeco Institutional Asset Management B.V. Sells 186,457 Shares of AT&T Inc. $T

Robeco Institutional Asset Management B.V. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 1.4% in the third quarter, HoldingsChannel reports. The fund owned 12,799,816 shares of the technology company’s stock after selling 186,457 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in AT&T were worth $312,316,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. State Street Corp increased its stake in shares of AT&T by 5.8% during the second quarter. State Street Corp now owns 334,273,613 shares of the technology company’s stock valued at $6,919,464,000 after purchasing an additional 18,468,679 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of AT&T by 4.6% during the first quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock valued at $3,629,307,000 after purchasing an additional 5,449,222 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 12.7% during the first quarter. Bank of New York Mellon Corp now owns 72,764,509 shares of the technology company’s stock valued at $2,109,443,000 after purchasing an additional 8,197,935 shares during the last quarter. GQG Partners LLC purchased a new position in shares of AT&T during the second quarter valued at approximately $1,223,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AT&T by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,616,152 shares of the technology company’s stock worth $1,151,254,000 after purchasing an additional 1,336,556 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.9%

AT&T stock opened at $23.41 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. AT&T Inc. has a one year low of $19.89 and a one year high of $29.43. The stock has a market capitalization of $160.44 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. The business’s fifty day moving average is $24.94 and its 200 day moving average is $24.33.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. AT&T had a return on equity of 12.86% and a net margin of 16.94%. The company had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $31.80 billion. During the same period last year, the company earned $0.54 EPS. AT&T’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.33 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 36.75%.

Key Headlines Impacting AT&T

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: Wall Street analysts have an average price target of approximately $29.05, well above AT&T’s recent trading level, suggesting potential upside if the company delivers an in-line or stronger-than-expected quarter. AT&T Inc. Stock Has Average Target Price of $29.05 According to Brokerages
• Positive Sentiment: AT&T is expanding its customer guarantee, including faster technical support, in an effort to improve service quality and retention as it competes with rivals. Better customer experience could support churn trends and recurring revenue. AT&T expands promises to customers as it trails rivals
• Positive Sentiment: A multiyear extension with the NBA and WNBA and the launch of a fourth-generation High-Speed Arena Network reinforce AT&T’s role as a connectivity partner and showcase its enterprise-network capabilities. AT&T, NBA and WNBA Launch Next-Generation Network
• Positive Sentiment: AT&T continues to appeal to income-focused investors, with reports highlighting its roughly 4.6% yield and stated intention to maintain its dividend at $1, potentially supporting valuation if cash flow remains steady. Better Dividend Stock for Retirees: AT&T vs. Comcast

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings raised AT&T from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Wells Fargo & Company boosted their target price on AT&T from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Scotiabank cut their target price on AT&T from $27.50 to $26.50 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. KeyCorp restated an “overweight” rating and set a $36.00 price target on shares of AT&T in a report on Wednesday, October 7th. Finally, Royal Bank Of Canada lowered their price target on AT&T from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, July 20th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.05.

AT&T Company Profile

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.