Meeder Advisory Services Inc. Has $2.13 Million Holdings in AT&T Inc. (NYSE:T)

Meeder Advisory Services Inc. grew its stake in AT&T Inc. (NYSE:T) by 38.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,197 shares of the technology company’s stock after purchasing an additional 30,887 shares during the period. Meeder Advisory Services Inc.’s holdings in AT&T were worth $2,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in AT&T in the 4th quarter valued at $1,118,288,000. Kodai Capital Management LP bought a new stake in AT&T in the fourth quarter valued at about $152,109,000. Bank of New York Mellon Corp raised its position in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during the period. Finally, Thornburg Investment Management Inc. boosted its holdings in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.7 %

Shares of T opened at $21.59 on Friday. The stock’s fifty day simple moving average is $19.53 and its 200-day simple moving average is $18.13. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $154.81 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 3.65 and a beta of 0.59. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.86.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Analysts Set New Price Targets

Several research firms recently commented on T. Deutsche Bank Aktiengesellschaft raised their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays lifted their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

About AT&T

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.