China Universal Asset Management Co. Ltd. Makes New $709,000 Investment in AT&T Inc. $T

China Universal Asset Management Co. Ltd. bought a new position in AT&T Inc. (NYSE:T) in the second quarter, Holdings Channel reports. The institutional investor bought 24,498 shares of the technology company’s stock, valued at approximately $709,000.

Several other institutional investors have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC purchased a new position in AT&T during the second quarter worth about $5,266,758,000. Norges Bank acquired a new stake in shares of AT&T during the 2nd quarter worth approximately $2,228,655,000. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after buying an additional 10,310,560 shares during the last quarter. Wellington Management Group LLP raised its position in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in AT&T by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,435,357 shares of the technology company’s stock valued at $973,833,000 after acquiring an additional 8,355,686 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Barclays reduced their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. Finally, Morgan Stanley lowered their price objective on shares of AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.55.

AT&T Stock Up 1.1%

Shares of T opened at $24.57 on Monday. The company’s 50-day simple moving average is $25.41 and its 200-day simple moving average is $27.26. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The stock has a market capitalization of $174.20 billion, a PE ratio of 7.98, a P/E/G ratio of 1.44 and a beta of 0.38.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio is currently 36.04%.

AT&T 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.