AT&T Inc. (NYSE:T) Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in AT&T by 0.5%, now owning approximately 49 million shares valued at around $1.39 billion.
• AT&T reported $0.54 earnings per share in its latest quarter, slightly above analysts' estimates, with a revenue of $30.85 billion, a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, resulting in an annualized dividend of $1.11 and a yield of 4.0%.

Goldman Sachs Group Inc. increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,038,107 shares of the technology company's stock after buying an additional 238,873 shares during the quarter. Goldman Sachs Group Inc. owned about 0.68% of AT&T worth $1,386,798,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in T. Hager Investment Management Services LLC boosted its holdings 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 valued at $28,000 after acquiring an additional 641 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of AT&T during the 1st quarter valued at $29,000. Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Capital A Wealth Management LLC bought a new position in AT&T during the 4th quarter worth $25,000. Finally, Minot DeBlois Advisors LLC bought a new position in AT&T during the 4th quarter worth $25,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

NYSE:T traded down $0.30 during trading hours on Wednesday, reaching $27.47. The company had a trading volume of 39,238,717 shares, compared to its average volume of 33,962,996. AT&T Inc. has a 52 week low of $18.97 and a 52 week high of $29.19. The firm's 50 day moving average price is $27.81 and its 200-day moving average price is $26.93. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market cap of $196.45 billion, a price-to-earnings ratio of 15.61, 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 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. On average, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank lifted their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. UBS Group reaffirmed a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. TD Securities lifted their price target on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Barclays lifted their price target on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.66.

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.