AT&T Inc. (NYSE:T) Shares Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its holdings in AT&T Inc. by 153.4%, now owning 158,400 shares valued at approximately $4.48 million.
• Analysts have varying price targets for AT&T, with Scotiabank raising its target from $29.50 to $30.00 and UBS Group increasing its target to $31.00.
• AT&T recently announced a quarterly dividend of $0.2775 per share, translating to an annualized yield of 4.0% with a payout ratio of 63.07%.

Alberta Investment Management Corp boosted its holdings in AT&T Inc. (NYSE:T - Free Report) by 153.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 158,400 shares of the technology company's stock after acquiring an additional 95,900 shares during the period. Alberta Investment Management Corp's holdings in AT&T were worth $4,480,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in T. Minot DeBlois Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in AT&T during the fourth quarter worth $27,000. Hager Investment Management Services LLC lifted its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares in the last quarter. Finally, Core Alternative Capital lifted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of a number of research reports. Scotiabank upped their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. UBS Group restated a "buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Finally, HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Stock Performance

Shares of T stock opened at $27.76 on Friday. The stock's 50-day moving average is $27.80 and its two-hundred day moving average is $26.85. The firm has a market cap of $198.49 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.44 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.64 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for 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%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 dividend yield of 4.0%. AT&T's dividend payout ratio is 63.07%.

AT&T Company 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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