Natixis Advisors LLC Buys 393,838 Shares of AT&T Inc. (NYSE:T)

Natixis Advisors LLC raised its position in shares of AT&T Inc. (NYSE:T) by 21.8% in the third quarter, HoldingsChannel.com reports. The firm owned 2,201,609 shares of the technology company’s stock after purchasing an additional 393,838 shares during the quarter. Natixis Advisors LLC’s holdings in AT&T were worth $48,435,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Patten & Patten Inc. TN raised its position in AT&T by 14.9% in the 1st quarter. Patten & Patten Inc. TN now owns 16,315 shares of the technology company’s stock valued at $287,000 after buying an additional 2,116 shares during the last quarter. Covestor Ltd lifted its position in shares of AT&T by 30.3% during the first quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock valued at $48,000 after purchasing an additional 622 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in AT&T by 13.5% during the first quarter. Bahl & Gaynor Inc. now owns 40,623 shares of the technology company’s stock worth $715,000 after purchasing an additional 4,841 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in AT&T by 36.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 698,491 shares of the technology company’s stock worth $12,293,000 after purchasing an additional 187,829 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its position in shares of AT&T by 8.6% during the 1st quarter. Thornburg Investment Management Inc. now owns 20,476,671 shares of the technology company’s stock worth $360,389,000 after buying an additional 1,616,598 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $22.68 on Monday. The company has a 50 day moving average of $21.89 and a 200 day moving average of $19.75. 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 has a market cap of $162.74 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.40 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.75 and a 12 month high of $22.75.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the business earned $0.64 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. AT&T’s payout ratio is currently 90.24%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average 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.