Sumitomo Mitsui Asset Management Company LTD Sells 67,687 Shares of AT&T Inc. (T)

Sumitomo Mitsui Asset Management Company LTD lowered its position in shares of AT&T Inc. (NYSE:T) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 543,268 shares of the technology company’s stock after selling 67,687 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in AT&T were worth $21,279,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of AT&T by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 427,857,308 shares of the technology company’s stock valued at $16,143,056,000 after buying an additional 9,053,649 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of AT&T by 6,188.8% in the 2nd quarter. Janus Henderson Group PLC now owns 6,900,152 shares of the technology company’s stock valued at $260,343,000 after buying an additional 6,790,430 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of AT&T by 13.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 47,961,490 shares of the technology company’s stock valued at $1,808,545,000 after buying an additional 5,619,434 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of AT&T by 1.1% in the 2nd quarter. BlackRock Inc. now owns 367,489,130 shares of the technology company’s stock valued at $13,865,363,000 after buying an additional 4,104,136 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of AT&T by 31.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 15,881,088 shares of the technology company’s stock valued at $599,193,000 after buying an additional 3,798,090 shares during the last quarter. 55.75% of the stock is owned by hedge funds and other institutional investors.

In other AT&T news, Director Matthew K. Rose acquired 29,600 shares of AT&T stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the purchase, the director now directly owns 3,100 shares of the company’s stock, valued at approximately $104,625. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Several equities research analysts have recently commented on T shares. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 11th. Vetr cut AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 price target on the stock. in a research note on Friday, October 6th. Standpoint Research initiated coverage on AT&T in a research note on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price target on the stock. Citigroup increased their price target on AT&T from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Finally, Canaccord Genuity restated a “buy” rating and issued a $51.00 price target on shares of AT&T in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $42.58.

AT&T Inc. (NYSE:T) opened at $38.00 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. AT&T Inc. has a 12-month low of $32.55 and a 12-month high of $42.89. The company has a market capitalization of $233,280.00, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.17 and a beta of 0.44.

AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. analysts expect that AT&T Inc. will post 2.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is 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 5.26%. AT&T’s dividend payout ratio (DPR) is 94.23%.

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About AT&T

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.

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

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