Commerce Bank Buys 1,194,566 Shares of AT&T Inc. (NYSE:T)

Key Points

• Commerce Bank increased its holdings in AT&T Inc. by 267.8% to approximately $46.40 million after buying an additional 1,194,566 shares in the first quarter.
• AT&T reported a 0.54 EPS for the most recent quarter, surpassing analysts' expectations by $0.01, and had revenue of $30.85 billion, which was 3.4% higher year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, reflecting a yield of 4.1% and a payout ratio of 63.07%.

Commerce Bank boosted its position in AT&T Inc. (NYSE:T - Free Report) by 267.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,640,637 shares of the technology company's stock after purchasing an additional 1,194,566 shares during the period. Commerce Bank's holdings in AT&T were worth $46,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Hager Investment Management Services LLC increased its position in shares of 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. IMA Advisory Services Inc. acquired a new position in shares of AT&T during the first quarter worth $29,000. Core Alternative Capital increased its position in shares of 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. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the fourth quarter worth $25,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the fourth quarter worth $25,000. Institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. UBS Group reaffirmed a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Scotiabank upped their price target on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Barclays upped their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.66.

AT&T Stock Up 1.3%

T stock traded up $0.35 during trading hours on Friday, hitting $27.76. The company's stock had a trading volume of 38,807,241 shares, compared to its average volume of 31,627,860. 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 market capitalization of $198.49 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42. AT&T Inc. has a 12 month low of $18.64 and a 12 month high of $29.19. The stock has a 50 day moving average price of $27.80 and a two-hundred day moving average price of $26.81.

AT&T (NYSE:T - Get Free Report) last posted 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 business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.0%. AT&T's dividend payout ratio is currently 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.