Sompo Japan Nipponkoa Asset Management CO. LTD. Purchases 33,430 Shares of AT&T Inc. (NYSE:T)

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Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in shares of AT&T Inc. (NYSE:T) by 19.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,451 shares of the technology company’s stock after acquiring an additional 33,430 shares during the period. AT&T makes up about 1.6% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 16th largest holding. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in AT&T were worth $5,931,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Garrett Wealth Advisory Group LLC raised its position in AT&T by 2.0% in the fourth quarter. Garrett Wealth Advisory Group LLC now owns 13,307 shares of the technology company’s stock worth $520,000 after acquiring an additional 263 shares during the period. FCA Corp TX raised its position in AT&T by 4.2% in the fourth quarter. FCA Corp TX now owns 6,685 shares of the technology company’s stock worth $261,000 after acquiring an additional 272 shares during the period. Cibc Bank USA raised its position in AT&T by 0.9% in the fourth quarter. Cibc Bank USA now owns 33,133 shares of the technology company’s stock worth $1,295,000 after acquiring an additional 299 shares during the period. American Asset Management Inc. raised its position in AT&T by 1.1% in the fourth quarter. American Asset Management Inc. now owns 27,063 shares of the technology company’s stock worth $1,058,000 after acquiring an additional 300 shares during the period. Finally, Beaton Management Co. Inc. raised its position in AT&T by 0.4% in the fourth quarter. Beaton Management Co. Inc. now owns 74,222 shares of the technology company’s stock worth $2,901,000 after acquiring an additional 300 shares during the period. 54.65% of the stock is owned by institutional investors.

Several brokerages have commented on T. Cowen lowered shares of AT&T from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $43.00 to $37.00 in a research report on Monday, March 23rd. Robert W. Baird lowered shares of AT&T from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $33.00 in a research report on Monday, March 23rd. Raymond James downgraded shares of AT&T from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Morgan Stanley reduced their target price on shares of AT&T from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Finally, ValuEngine downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus target price of $36.15.

NYSE:T traded up $0.11 during mid-day trading on Friday, hitting $29.88. 25,754,216 shares of the stock traded hands, compared to its average volume of 35,192,484. The business’s 50-day moving average price is $29.66 and its 200 day moving average price is $35.34. The company has a market cap of $213.84 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.64 and a beta of 0.72. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). AT&T had a net margin of 8.05% and a return on equity of 13.27%. The company had revenue of $42.78 billion for the quarter, compared to the consensus estimate of $44.75 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 3.29 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 9th were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, April 8th. This represents a $2.08 annualized dividend and a yield of 6.96%. AT&T’s payout ratio is presently 58.26%.

In related news, Director Stephen J. Luczo bought 36,000 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was acquired at an average cost of $29.38 per share, for a total transaction of $1,057,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geoffrey Y. Yang bought 6,754 shares of the company’s stock in a transaction on Friday, April 24th. The shares were bought at an average price of $29.39 per share, with a total value of $198,500.06. Following the completion of the transaction, the director now owns 9,398 shares of the company’s stock, valued at $276,207.22. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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