National Bank of Canada FI Buys 360,595 Shares of AT&T Inc. (NYSE:T)

National Bank of Canada FI raised its stake in AT&T Inc. (NYSE:T) by 7.1% in the third quarter, Holdings Channel reports. The fund owned 5,438,245 shares of the technology company’s stock after purchasing an additional 360,595 shares during the quarter. National Bank of Canada FI’s holdings in AT&T were worth $119,641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in T. Strategic Financial Concepts LLC lifted its holdings in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. American Capital Advisory LLC lifted its holdings in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter worth about $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $23.88 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The stock has a market capitalization of $171.35 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. The stock’s 50 day moving average price is $22.32 and its 200-day moving average price is $20.30.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The company 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 yield of 4.65%. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on T. Oppenheimer upped their price objective on AT&T from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Citigroup upped their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.73.

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.