Point72 Asia Singapore Pte. Ltd. Acquires New Shares in AT&T Inc. (NYSE:T)

Point72 Asia Singapore Pte. Ltd. purchased a new position in AT&T Inc. (NYSE:T) during the 4th quarter, HoldingsChannel reports. The fund purchased 124,698 shares of the technology company’s stock, valued at approximately $2,839,000. AT&T accounts for 0.7% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 26th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of T. Cooper Financial Group raised its stake in shares of AT&T by 14.5% during the fourth quarter. Cooper Financial Group now owns 22,223 shares of the technology company’s stock worth $506,000 after acquiring an additional 2,813 shares in the last quarter. FNY Investment Advisers LLC raised its position in AT&T by 4,346.7% in the 4th quarter. FNY Investment Advisers LLC now owns 13,340 shares of the technology company’s stock worth $303,000 after purchasing an additional 13,040 shares during the period. Rosenberg Matthew Hamilton lifted its stake in AT&T by 30.9% in the fourth quarter. Rosenberg Matthew Hamilton now owns 6,632 shares of the technology company’s stock worth $151,000 after purchasing an additional 1,567 shares during the last quarter. 626 Financial LLC lifted its stake in AT&T by 1.9% in the fourth quarter. 626 Financial LLC now owns 33,310 shares of the technology company’s stock worth $758,000 after purchasing an additional 614 shares during the last quarter. Finally, Sovereign Financial Group Inc. boosted its position in AT&T by 3.2% during the fourth quarter. Sovereign Financial Group Inc. now owns 51,854 shares of the technology company’s stock valued at $1,181,000 after buying an additional 1,606 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.2%

T opened at $26.49 on Thursday. AT&T Inc. has a one year low of $17.11 and a one year high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market capitalization of $190.61 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The business’s 50-day simple moving average is $27.15 and its 200-day simple moving average is $24.83.

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). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is presently 68.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on T. Williams Trading set a $30.00 price target on shares of AT&T in a report on Thursday, April 24th. Argus upgraded 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. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada upped their target price on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

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.