AT&T Inc. (NYSE:T) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 971,359 shares of the technology company's stock after purchasing an additional 23,145 shares during the period. State of Alaska Department of Revenue's holdings in AT&T were worth $27,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in AT&T in the 4th quarter valued at about $25,000. Minot DeBlois Advisors LLC acquired a new position in AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in AT&T in the 4th quarter valued at about $27,000. Marshall Investment Management LLC acquired a new position in AT&T in the 4th quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC increased its position in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after acquiring an additional 430 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Down 1.2%

T stock opened at $27.65 on Wednesday. The company has a market cap of $198.92 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 3.89 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $27.47 and a 200-day simple moving average of $25.71. AT&T Inc. has a 52 week low of $17.86 and a 52 week high of $29.03.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.02%. AT&T's dividend payout ratio is currently 68.10%.

Analysts Set New Price Targets

A number of brokerages have weighed in on T. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Royal Bank Of Canada lifted their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Oppenheimer lifted their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.71.

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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