Cim LLC Purchases Shares of 7,824 AT&T Inc. $T

Cim LLC bought a new position in AT&T Inc. (NYSE:T) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,824 shares of the technology company’s stock, valued at approximately $221,000.

Several other large investors also recently added to or reduced their stakes in T. Brighton Jones LLC boosted its holdings in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC bought a new stake in shares of AT&T in the fourth quarter valued at about $213,000. Occudo Quantitative Strategies LP bought a new stake in shares of AT&T in the fourth quarter valued at about $324,000. ProShare Advisors LLC lifted its stake in shares of AT&T by 14.1% in the fourth quarter. ProShare Advisors LLC now owns 1,063,500 shares of the technology company’s stock valued at $24,216,000 after buying an additional 131,702 shares during the period. Finally, Redwood Financial Network Corp acquired a new position in AT&T in the fourth quarter worth about $203,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.3%

AT&T stock opened at $29.59 on Friday. The firm has a market capitalization of $211.58 billion, a PE ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. The company’s 50-day moving average is $28.31 and its 200-day moving average is $27.73. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on T. Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. Morgan Stanley lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. UBS Group set a $32.00 target price on shares of AT&T in a report on Thursday, September 4th. Finally, Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

About AT&T

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.