Deseret Mutual Benefit Administrators Has $538,000 Stake in AT&T Inc. (NYSE:T)

Deseret Mutual Benefit Administrators lowered its holdings in AT&T Inc. (NYSE:T) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,459 shares of the technology company’s stock after selling 1,729 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in AT&T were worth $538,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Citigroup increased their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Performance

Shares of T opened at $22.28 on Thursday. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73. The company has a 50-day simple moving average of $21.61 and a two-hundred day simple moving average of $19.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market capitalization of $159.87 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results 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. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

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

AT&T 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.