Mutual of America Capital Management LLC Increases Position in AT&T Inc. (NYSE:T)

Mutual of America Capital Management LLC increased its stake in AT&T Inc. (NYSE:T) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,059,057 shares of the technology company’s stock after acquiring an additional 39,684 shares during the period. Mutual of America Capital Management LLC’s holdings in AT&T were worth $20,239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares during the period. LSV Asset Management boosted its position in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after buying an additional 315,580 shares during the period. Thornburg Investment Management Inc. raised its stake in shares of AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of AT&T by 9.0% during the second quarter. State of Michigan Retirement System now owns 20,072,613 shares of the technology company’s stock valued at $383,588,000 after acquiring an additional 1,662,100 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T opened at $21.78 on Wednesday. The stock has a market cap of $156.17 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The firm’s 50-day simple moving average is $19.72 and its two-hundred day simple moving average is $18.26.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Moffett Nathanson upped their price objective 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. Evercore ISI upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.31.

About AT&T

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.