Legal & General Group Plc grew its stake in shares of AT&T Inc. (NYSE:T) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,861,378 shares of the technology company’s stock after acquiring an additional 1,406,265 shares during the quarter. AT&T comprises about 1.1% of Legal & General Group Plc’s holdings, making the stock its 9th largest position. Legal & General Group Plc’s holdings in AT&T were worth $1,522,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Israel Discount Bank of New York increased its position in AT&T by 0.6% during the 2nd quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock worth $154,000 after purchasing an additional 25 shares in the last quarter. Greatmark Investment Partners Inc. grew its position in AT&T by 0.4% in the second quarter. Greatmark Investment Partners Inc. now owns 12,998 shares of the technology company’s stock valued at $490,000 after acquiring an additional 53 shares in the last quarter. Cim LLC grew its position in AT&T by 1.0% in the second quarter. Cim LLC now owns 6,399 shares of the technology company’s stock valued at $241,000 after acquiring an additional 62 shares in the last quarter. Stratford Consulting LLC grew its position in AT&T by 0.9% in the second quarter. Stratford Consulting LLC now owns 7,277 shares of the technology company’s stock valued at $275,000 after acquiring an additional 68 shares in the last quarter. Finally, New England Investment & Retirement Group Inc. grew its position in AT&T by 1.1% in the second quarter. New England Investment & Retirement Group Inc. now owns 7,122 shares of the technology company’s stock valued at $269,000 after acquiring an additional 77 shares in the last quarter. 55.49% of the stock is owned by institutional investors.

In related news, Director Richard W. Fisher bought 2,600 shares of the company’s stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $38.10 per share, with a total value of $99,060.00. Following the completion of the transaction, the director now directly owns 2,600 shares of the company’s stock, valued at $99,060. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John T. Stankey sold 2,307 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $39.21, for a total value of $90,457.47. Following the completion of the sale, the executive vice president now directly owns 51,672 shares in the company, valued at $2,026,059.12. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

AT&T Inc. (NYSE:T) opened at $36.05 on Monday. AT&T Inc. has a one year low of $32.55 and a one year high of $42.70. The stock has a market capitalization of $221,310.00, a price-to-earnings ratio of 7.51, a P/E/G ratio of 2.49 and a beta of 0.37. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.60 and a current ratio of 0.97.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.13. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The firm had revenue of $41.68 billion for the quarter, compared to analysts’ expectations of $41.21 billion. During the same period last year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. analysts predict that AT&T Inc. will post 3.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This is a positive change from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.55%. AT&T’s dividend payout ratio (DPR) is currently 41.67%.

T has been the subject of several recent research reports. Vetr downgraded shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $39.67 price objective for the company. in a research report on Wednesday, November 29th. Nomura lowered their price objective on shares of AT&T to $42.00 and set a “buy” rating for the company in a research report on Tuesday, November 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 price objective on shares of AT&T in a research report on Friday, November 10th. Citigroup increased their price objective on shares of AT&T from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Finally, Standpoint Research initiated coverage on shares of AT&T in a research report on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $41.94.

ILLEGAL ACTIVITY NOTICE: “Legal & General Group Plc Boosts Stake in AT&T Inc. (T)” was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark & copyright law. The correct version of this story can be read at https://theolympiareport.com/2018/02/12/legal-general-group-plc-boosts-stake-in-att-inc-t.html.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.