B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in AT&T Inc. (NYSE:T)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in AT&T Inc. (NYSE:T) in the third quarter, HoldingsChannel reports. The firm acquired 391,419 shares of the technology company’s stock, valued at approximately $8,611,000.

Several other institutional investors and hedge funds have also modified their holdings of T. Chesapeake Wealth Management raised its stake in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares during the last quarter. Socha Financial Group LLC lifted its holdings in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares in the last quarter. Essex Savings Bank boosted its position in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares during the last quarter. Hayek Kallen Investment Management raised its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 500 shares during the last quarter. Finally, Aviance Capital Partners LLC lifted its stake in shares of AT&T by 2.1% during the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock valued at $537,000 after acquiring an additional 501 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup upped their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Price Performance

Shares of NYSE T opened at $22.73 on Wednesday. The company has a fifty day moving average price of $21.94 and a 200 day moving average price of $19.84. The firm has a market cap of $163.09 billion, a PE ratio of 18.48, a PEG ratio of 3.40 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $15.85 and a 1-year high of $23.20.

AT&T (NYSE:T) last posted its quarterly earnings data 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 during 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%. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.88%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.