Algert Global LLC Buys New Position in AT&T Inc. $T

Key Points

• Algert Global LLC recently acquired a new position in AT&T Inc., purchasing 37,468 shares valued at approximately $1,060,000.
• Wall Street analysts have a positive outlook on AT&T, with multiple firms raising their price targets, including Wells Fargo and JPMorgan Chase, forecasting prices as high as $33.00.
• AT&T has declared a quarterly dividend of $0.2775 per share, translating to an annualized yield of 3.9%, marking a commitment to returning value to shareholders.

Algert Global LLC purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 37,468 shares of the technology company's stock, valued at approximately $1,060,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. LeConte Wealth Management LLC acquired a new position in AT&T in the first quarter valued at approximately $466,000. Northwest & Ethical Investments L.P. lifted its stake in AT&T by 33.2% in the first quarter. Northwest & Ethical Investments L.P. now owns 406,451 shares of the technology company's stock valued at $11,494,000 after buying an additional 101,202 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in AT&T by 1.1% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,175,896 shares of the technology company's stock valued at $33,254,000 after buying an additional 12,559 shares during the period. Twin Focus Capital Partners LLC lifted its stake in AT&T by 11.4% in the first quarter. Twin Focus Capital Partners LLC now owns 19,526 shares of the technology company's stock valued at $552,000 after buying an additional 1,991 shares during the period. Finally, Tocqueville Asset Management L.P. increased its stake in AT&T by 2.5% in the first quarter. Tocqueville Asset Management L.P. now owns 128,971 shares of the technology company's stock valued at $3,647,000 after purchasing an additional 3,167 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of several research analyst reports. Scotiabank lifted their price target on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.21.

AT&T Trading Down 2.4%

NYSE T opened at $28.7290 on Friday. The firm has a market capitalization of $205.42 billion, a P/E ratio of 16.32, a PEG ratio of 3.64 and a beta of 0.42. The business has a fifty day simple moving average of $27.99 and a 200 day simple moving average of $27.36. AT&T Inc. has a 12 month low of $19.51 and a 12 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.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is 63.07%.

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.

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