OVERSEA CHINESE BANKING Corp Ltd Acquires 27,382 Shares of AT&T Inc. (NYSE:T)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its holdings in AT&T Inc. by 238%, owning 38,889 shares valued at $1,100,000 by the end of the first quarter.
• AT&T reported a quarterly EPS of $0.54, surpassing estimates, with revenues of $30.85 billion, showing a 3.4% year-over-year increase.
• The company announced a quarterly dividend of $0.2775 per share, yielding 4.0%, with a payout ratio of 63.07%.

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in AT&T Inc. (NYSE:T - Free Report) by 238.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,889 shares of the technology company's stock after buying an additional 27,382 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in AT&T were worth $1,100,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new position in AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T in the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the fourth quarter worth about $27,000. Hager Investment Management Services LLC raised its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after acquiring an additional 641 shares during the last quarter. Finally, Core Alternative Capital raised its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 1.3%

T traded up $0.35 during trading on Friday, reaching $27.76. The company had a trading volume of 38,807,241 shares, compared to its average volume of 33,568,712. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a 12 month low of $18.64 and a 12 month high of $29.19. The business's fifty day moving average price is $27.80 and its 200 day moving average price is $26.88. The company has a market cap of $198.49 billion, a P/E ratio of 15.77, a PEG ratio of 3.44 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate 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 Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. AT&T's payout ratio is presently 63.07%.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Morgan Stanley lifted their price target 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. Finally, HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. One equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.66.

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.