Meridiem Capital Partners LP Buys Shares of 1,057,965 AT&T Inc. (NYSE:T)

Meridiem Capital Partners LP bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,057,965 shares of the technology company's stock, valued at approximately $24,090,000. AT&T comprises approximately 2.1% of Meridiem Capital Partners LP's portfolio, making the stock its 20th biggest holding.

Other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in AT&T during the 4th quarter worth approximately $25,000. Marshall Investment Management LLC bought a new position in AT&T during the fourth quarter worth $28,000. Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares during the last quarter. YANKCOM Partnership acquired a new position in AT&T in the fourth quarter worth $30,000. Finally, Endeavor Private Wealth Inc. bought a new stake in AT&T during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

Shares of T traded up $0.87 during mid-day trading on Thursday, hitting $27.31. The company's stock had a trading volume of 35,254,830 shares, compared to its average volume of 36,758,495. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a 50-day moving average price of $27.15 and a 200 day moving average price of $24.83. AT&T Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $29.03. The stock has a market capitalization of $196.51 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $30.39 billion. During the same quarter last year, the company posted $0.55 EPS. AT&T's revenue was up 2.0% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's dividend payout ratio is presently 68.10%.

Analysts Set New Price Targets

T has been the subject of several research reports. 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. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. Cowen reiterated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Barclays boosted their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. 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 stock. Based on data from MarketBeat, AT&T has an average rating of "Moderate Buy" and an average target price of $28.71.

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.