Global Assets Advisory LLC Invests $662,000 in AT&T Inc. (NYSE:T)

Global Assets Advisory LLC acquired a new stake in shares of AT&T Inc. (NYSE:T) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 24,689 shares of the technology company’s stock, valued at approximately $662,000.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of AT&T in the fourth quarter valued at about $1,858,418,000. GQG Partners LLC grew its stake in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying 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 shares of AT&T by 31.8% in 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 buying an additional 12,881,578 shares during the period. Northern Trust Corp grew its stake in shares of AT&T by 16.3% in 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 buying an additional 10,945,679 shares during the period. Finally, Assetmark Inc. grew its stake in shares of AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after buying an additional 9,719,036 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several analyst reports. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Wells Fargo & Company increased their price target on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Finally, Evercore ISI increased their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” 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, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.76.

AT&T Trading Down 1.2%

NYSE:T opened at $27.93 on Thursday. The firm has a market cap of $200.97 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 4.01 and a beta of 0.41. The stock has a fifty day moving average price of $27.59 and a 200 day moving average price of $25.87. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. Sell-side analysts anticipate 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.97%. AT&T’s dividend payout ratio is currently 68.10%.

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.