Alliancebernstein L.P. Has $531.76 Million Holdings in AT&T Inc. $T

Key Points

• AllianceBernstein L.P. increased its holdings in AT&T Inc. by 0.9%, owning 18,803,409 shares valued at approximately $531.76 million at the end of the most recent quarter.
• AT&T reported a quarterly earnings per share (EPS) of $0.54, beating analyst expectations of $0.53, with revenue of $30.85 billion, which was above the estimated $30.44 billion.
• The company announced a quarterly dividend of $0.2775 per share, which provides a 3.8% yield, reflecting a dividend payout ratio of 63.07%.

Alliancebernstein L.P. raised its position in shares of AT&T Inc. (NYSE:T - Free Report) by 0.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 18,803,409 shares of the technology company's stock after purchasing an additional 170,802 shares during the quarter. Alliancebernstein L.P. owned approximately 0.26% of AT&T worth $531,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new stake in AT&T during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter valued at approximately $25,000. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC grew its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

Shares of T opened at $29.07 on Wednesday. AT&T Inc. has a 12-month low of $19.92 and a 12-month high of $29.65. The business's fifty day moving average is $28.15 and its 200 day moving average is $27.57. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock has a market cap of $207.86 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period last year, the business earned $0.51 EPS. AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T's dividend payout ratio (DPR) is 63.07%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. UBS Group reaffirmed a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.40.

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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