FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of AT&T Inc. (NYSE:T) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,651 shares of the technology company’s stock after buying an additional 4,198 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in AT&T were worth $1,896,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of T. BlackRock Inc. increased its holdings in AT&T by 0.8% during the 4th quarter. BlackRock Inc. now owns 485,568,654 shares of the technology company’s stock worth $13,964,955,000 after purchasing an additional 3,666,423 shares in the last quarter. Morgan Stanley increased its holdings in AT&T by 4.9% during the 4th quarter. Morgan Stanley now owns 78,703,060 shares of the technology company’s stock worth $2,263,501,000 after purchasing an additional 3,680,978 shares in the last quarter. Norges Bank bought a new stake in AT&T during the 4th quarter worth approximately $2,019,873,000. Bank of New York Mellon Corp increased its holdings in AT&T by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 61,404,948 shares of the technology company’s stock worth $1,766,006,000 after purchasing an additional 1,360,766 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in AT&T by 5.3% during the 4th quarter. Nuveen Asset Management LLC now owns 37,240,494 shares of the technology company’s stock worth $1,071,036,000 after purchasing an additional 1,870,844 shares in the last quarter. 51.17% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on T shares. Credit Suisse Group decreased their price objective on AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 19th. Morgan Stanley lowered AT&T from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $36.00 to $34.00 in a report on Thursday, December 17th. Deutsche Bank Aktiengesellschaft reduced their target price on AT&T from $36.00 to $31.00 in a report on Monday, February 8th. Raymond James reaffirmed a “buy” rating on shares of AT&T in a report on Monday, March 15th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of AT&T in a report on Wednesday, March 3rd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.47.
Shares of NYSE:T traded down $0.07 during trading on Monday, hitting $29.97. 484,525 shares of the company were exchanged, compared to its average volume of 43,579,094. The company has a market cap of $213.74 billion, a PE ratio of 19.73, a P/E/G ratio of 3.04 and a beta of 0.70. The stock has a 50 day moving average of $29.68 and a 200 day moving average of $28.92. AT&T Inc. has a 52-week low of $26.35 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.84 and a quick ratio of 0.84.
AT&T (NYSE:T) last posted its earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. The firm had revenue of $45.70 billion for the quarter, compared to the consensus estimate of $44.58 billion. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 3.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $2.08 annualized dividend and a dividend yield of 6.94%. AT&T’s dividend payout ratio is currently 58.26%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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