Bwcp LP Acquires 136,602 Shares of AT&T Inc. $T

Key Points

• Bwcp LP increased its stake in AT&T by 26.8%, acquiring 136,602 additional shares, making AT&T the 13th largest position in its portfolio, valued at approximately $18.27 million.
• AT&T recently announced a quarterly dividend of $0.2775 per share, translating to an annualized dividend of $1.11 and a yield of 3.8%.
• Analysts maintain a consensus rating of "Moderate Buy" for AT&T, with a price target of $30.40, reflecting a mix of buy and hold ratings from several research firms.

Bwcp LP raised its position in shares of AT&T Inc. (NYSE:T - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 646,060 shares of the technology company's stock after acquiring an additional 136,602 shares during the quarter. AT&T makes up approximately 3.7% of Bwcp LP's holdings, making the stock its 13th largest position. Bwcp LP's holdings in AT&T were worth $18,271,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of T. Capstone Wealth Management LLC purchased a new position in shares of AT&T during the first quarter valued at approximately $201,000. DigitalBridge Group Inc. raised its stake in AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after buying an additional 365,776 shares during the last quarter. Wedmont Private Capital raised its stake in AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after buying an additional 9,027 shares during the last quarter. Xponance Inc. raised its stake in AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after buying an additional 102,419 shares during the last quarter. Finally, NBT Bank N A NY raised its stake in AT&T by 7.5% during the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock valued at $3,660,000 after buying an additional 8,989 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on T shares. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Scotiabank upped their target price on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Finally, UBS Group reissued a "buy" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.40.

AT&T Price Performance

Shares of T opened at $29.07 on Wednesday. The company has a market cap of $207.86 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. AT&T Inc. has a twelve month low of $19.92 and a twelve month high of $29.65. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $28.15 and a two-hundred day moving average of $27.57.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed 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. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is presently 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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