MJP Associates Inc. ADV Acquires 1,492 Shares of AT&T Inc. (NYSE:T)

MJP Associates Inc. ADV grew its position in shares of AT&T Inc. (NYSE:T) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,129 shares of the technology company’s stock after buying an additional 1,492 shares during the quarter. MJP Associates Inc. ADV’s holdings in AT&T were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Moore Capital Management LP purchased a new position in shares of AT&T during the 4th quarter valued at $1,163,000. Leigh Baldwin & CO. LLC purchased a new position in shares of AT&T during the 4th quarter valued at $565,000. Laurion Capital Management LP purchased a new position in shares of AT&T during the 4th quarter valued at $275,000. Lighthouse Investment Partners LLC bought a new stake in AT&T in the 4th quarter valued at $9,783,000. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in AT&T in the 4th quarter valued at $497,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Oppenheimer boosted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Trading Up 1.5%

NYSE T opened at $27.88 on Monday. The company has a fifty day simple moving average of $27.15 and a two-hundred day simple moving average of $24.77. The stock has a market cap of $200.61 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12-month low of $17.11 and a 12-month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.98%. AT&T’s dividend payout ratio is presently 68.10%.

AT&T Company 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.