Bwcp LP Takes $11.60 Million Position in AT&T Inc. (NYSE:T)

Bwcp LP acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 509,458 shares of the technology company's stock, valued at approximately $11,600,000. AT&T comprises 2.5% of Bwcp LP's holdings, making the stock its 22nd largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after buying an additional 2,640,644 shares during the last quarter. GQG Partners LLC raised its position in shares of AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new stake in AT&T during the fourth quarter worth approximately $1,858,418,000. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

T has been the subject of a number of recent research reports. StockNews.com upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. TD Securities lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, BNP Paribas upgraded shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Down 0.0 %

AT&T stock traded down $0.01 during mid-day trading on Friday, reaching $27.63. 22,922,269 shares of the company were exchanged, compared to its average volume of 36,414,413. 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 firm has a market cap of $198.81 billion, a P/E ratio of 18.54, a PEG ratio of 3.00 and a beta of 0.42. The business has a fifty day moving average of $27.06 and a 200 day moving average of $24.54. AT&T Inc. has a 12-month low of $16.91 and a 12-month high of $29.03.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.02%. AT&T's dividend payout ratio (DPR) is 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.