MJP Associates Inc. ADV Raises Stock Position in AT&T Inc. (NYSE:T)

MJP Associates Inc. ADV increased its stake in AT&T Inc. (NYSE:T) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,129 shares of the technology company’s stock after purchasing an additional 1,492 shares during the quarter. MJP Associates Inc. ADV’s holdings in AT&T were worth $572,000 at the end of the most recent quarter.

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 purchased a new position in shares of AT&T during the 4th quarter valued at $9,783,000. Finally, Investor s Fiduciary Advisor Network LLC purchased a new position in shares of AT&T during 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. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Evercore ISI lifted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Oppenheimer lifted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Stock Up 1.5%

NYSE:T opened at $27.88 on Monday. The firm has a market capitalization of $200.61 billion, a P/E ratio of 18.71, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 1-year low of $17.11 and a 1-year high of $29.03. The company’s fifty day moving average price is $27.15 and its 200-day moving average price is $24.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

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. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm 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 was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.98%. AT&T’s payout ratio is presently 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.