AT&T Inc. (NYSE:T) is M.E. Allison & CO. Inc.'s 8th Largest Position

M.E. Allison & CO. Inc. raised its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 42.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,549 shares of the technology company's stock after buying an additional 21,394 shares during the period. AT&T comprises approximately 2.0% of M.E. Allison & CO. Inc.'s holdings, making the stock its 8th largest position. M.E. Allison & CO. Inc.'s holdings in AT&T were worth $2,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC increased its stake 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 purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC increased its stake in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AT&T in the 4th quarter worth $1,858,418,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the subject of several analyst reports. Scotiabank restated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. TD Securities upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Trading Down 0.5%

Shares of AT&T stock opened at $28.13 on Monday. The firm has a market cap of $202.43 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41. The business has a 50-day moving average price of $27.41 and a 200-day moving average price of $25.66. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.49 and a twelve month high of $29.03.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T's dividend payout ratio is currently 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.

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