Pictet Asset Management Ltd. Boosts Position in AT&T Inc. (NYSE:T)

Pictet Asset Management Ltd. boosted its position in AT&T Inc. (NYSE:T) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,587,599 shares of the technology company’s stock after buying an additional 33,077 shares during the period. AT&T makes up about 0.6% of Pictet Asset Management Ltd.’s investment portfolio, making the stock its 28th largest position. Pictet Asset Management Ltd. owned 0.07% of AT&T worth $190,615,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in AT&T during the fourth quarter worth about $2,416,759,000. Westwood Holdings Group Inc. boosted its stake in shares of AT&T by 2,630.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,225,260 shares of the technology company’s stock valued at $137,171,000 after buying an additional 3,107,120 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of AT&T by 26.5% in the fourth quarter. Teachers Advisors LLC now owns 13,610,660 shares of the technology company’s stock valued at $578,861,000 after buying an additional 2,849,017 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of AT&T by 4,357.5% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,049,259 shares of the technology company’s stock valued at $2,049,000 after buying an additional 2,003,286 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of AT&T by 6.1% in the fourth quarter. Macquarie Group Ltd. now owns 19,837,884 shares of the technology company’s stock valued at $843,705,000 after buying an additional 1,139,382 shares in the last quarter. Hedge funds and other institutional investors own 55.24% of the company’s stock.

AT&T Inc. (T) traded down 0.61% during trading on Friday, hitting $37.37. The stock had a trading volume of 23,017,865 shares. The firm has a market cap of $229.45 billion, a PE ratio of 17.56 and a beta of 0.47. AT&T Inc. has a 52-week low of $35.81 and a 52-week high of $43.03. The company’s 50 day moving average is $37.59 and its 200 day moving average is $39.51.

AT&T (NYSE:T) last released its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $39.84 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post $2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was Thursday, July 6th. AT&T’s payout ratio is 92.45%.

Several equities research analysts recently weighed in on T shares. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.93 target price for the company in a report on Wednesday, May 24th. Barclays PLC dropped their target price on AT&T from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $42.00 price target on shares of AT&T in a research report on Sunday, July 9th. ValuEngine lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Tigress Financial raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $43.50.

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.