FUKOKU MUTUAL LIFE INSURANCE Co Has $17.45 Million Stake in AT&T Inc. (NYSE:T)

FUKOKU MUTUAL LIFE INSURANCE Co lowered its stake in shares of AT&T Inc. (NYSE:T) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 793,115 shares of the technology company’s stock after selling 25,000 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in AT&T were worth $17,449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC grew its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of AT&T in the third quarter worth $35,000. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter valued at approximately $30,000. Finally, Marquette Asset Management LLC purchased a new position in AT&T in the 3rd quarter worth about $36,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 0.2 %

Shares of T opened at $22.25 on Friday. The firm has a 50 day simple moving average of $21.82 and a two-hundred day simple moving average of $19.65. The company has a market cap of $159.61 billion, a P/E ratio of 18.09, a P/E/G ratio of 3.35 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a one year low of $15.64 and a one year high of $22.73.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm 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 company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. Research analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. JPMorgan Chase & Co. increased their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Evercore ISI lifted their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus 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.