IFM Investors Pty Ltd boosted its holdings in AT&T Inc. (NYSE:T – Get Rating) by 20.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,124,683 shares of the technology company’s stock after purchasing an additional 187,921 shares during the quarter. IFM Investors Pty Ltd’s holdings in AT&T were worth $26,576,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Traverso Chambers Private Wealth Management LLC grew its holdings in AT&T by 3.7% in the first quarter. Traverso Chambers Private Wealth Management LLC now owns 25,425 shares of the technology company’s stock worth $601,000 after purchasing an additional 915 shares during the period. Unison Advisors LLC grew its holdings in shares of AT&T by 2.1% during the first quarter. Unison Advisors LLC now owns 53,442 shares of the technology company’s stock valued at $1,263,000 after buying an additional 1,102 shares during the last quarter. Perkins Coie Trust Co grew its holdings in shares of AT&T by 13.1% during the first quarter. Perkins Coie Trust Co now owns 109,331 shares of the technology company’s stock valued at $2,583,000 after buying an additional 12,638 shares during the last quarter. Kowal Investment Group LLC grew its holdings in shares of AT&T by 1.5% during the first quarter. Kowal Investment Group LLC now owns 57,481 shares of the technology company’s stock valued at $1,358,000 after buying an additional 854 shares during the last quarter. Finally, WealthBridge Capital Management LLC lifted its position in AT&T by 48.2% during the first quarter. WealthBridge Capital Management LLC now owns 15,070 shares of the technology company’s stock valued at $356,000 after purchasing an additional 4,901 shares during the period. Hedge funds and other institutional investors own 53.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on T shares. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $34.00 to $22.00 in a research report on Monday, April 11th. Cowen reduced their price target on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Moffett Nathanson started coverage on shares of AT&T in a research report on Tuesday, April 5th. They set a $19.00 target price on the stock. Wolfe Research decreased their target price on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. Finally, StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.17.
AT&T Trading Up 1.1 %
AT&T (NYSE:T – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. AT&T had a return on equity of 13.09% and a net margin of 13.41%. The company had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue was down 17.1% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.5 EPS for the current fiscal year.
AT&T Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 11th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.91%. The ex-dividend date is Friday, July 8th. AT&T’s payout ratio is presently 40.81%.
AT&T Company Profile
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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