Del Sette Capital Management LLC Takes $2.35 Million Position in AT&T Inc. (NYSE:T)

Del Sette Capital Management LLC purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 83,102 shares of the technology company's stock, valued at approximately $2,350,000. AT&T makes up about 1.8% of Del Sette Capital Management LLC's investment portfolio, making the stock its 20th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth $1,858,418,000. GQG Partners LLC lifted its holdings in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after buying an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp raised its stake in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Invesco Ltd. grew its position in AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after purchasing an additional 7,347,354 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock traded down $0.07 during trading hours on Friday, hitting $26.92. 27,403,482 shares of the company's stock were exchanged, compared to its average volume of 36,405,886. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The firm has a market cap of $193.71 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.36 and a beta of 0.42. The firm has a 50 day moving average of $27.74 and a two-hundred day moving average of $26.47. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the prior year, the company earned $0.55 EPS. The company's revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer raised their target price on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Finally, Barclays boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned 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 price target of $29.17.

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.