24,090 Shares in AT&T Inc. $T Purchased by Maverick Capital Ltd.

Key Points

• Maverick Capital Ltd. acquired 24,090 shares of AT&T Inc. valued at approximately $681,000, marking a significant new investment during the first quarter.
• Analysts have generally set a positive outlook on AT&T, with multiple firms raising their target prices, including JPMorgan Chase & Co. which increased its target from $31.00 to $33.00.
• AT&T recently announced a quarterly dividend of $0.2775 per share, representing an annualized dividend of $1.11 and a yield of 3.8%.

Maverick Capital Ltd. acquired a new position in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 24,090 shares of the technology company's stock, valued at approximately $681,000.

Other large investors have also modified their holdings of the company. AllSquare Wealth Management LLC increased its stake in AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after buying an additional 378 shares during the period. Next Level Private LLC increased its stake in AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the period. Barnes Wealth Management Group Inc increased its stake in AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after buying an additional 380 shares during the period. Carolinas Wealth Consulting LLC increased its stake in AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after buying an additional 384 shares during the period. Finally, Kozak & Associates Inc. increased its stake in AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after buying an additional 398 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group reissued a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 target price on the stock. Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $30.21.

AT&T Stock Performance

NYSE:T opened at $29.29 on Tuesday. AT&T Inc. has a twelve month low of $19.62 and a twelve month high of $29.65. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $28.13 and a 200-day moving average of $27.56. The firm has a market cap of $209.43 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm posted $0.51 EPS. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast 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 Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 63.07%.

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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.