AT&T Inc. (NYSE:T) Shares Acquired by Davidson Trust Co.

Davidson Trust Co. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 211.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 35,841 shares of the technology company’s stock after acquiring an additional 24,328 shares during the period. Davidson Trust Co.’s holdings in AT&T were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of T. Norges Bank acquired a new position in shares of AT&T in the 4th quarter valued at $1,858,418,000. GQG Partners LLC lifted its position in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp grew its stake in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock valued at $1,085,034,000 after purchasing an additional 7,347,354 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.1%

T opened at $28.33 on Friday. The company has a market cap of $203.82 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The company has a 50-day moving average price of $27.76 and a 200 day moving average price of $26.08. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s payout ratio is 68.10%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. UBS Group restated a “buy” rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Williams Trading set a $30.00 price objective on shares of AT&T in a report on Thursday, April 24th. Finally, Royal Bank Of Canada increased their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.90.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.