Gotham Asset Management LLC Has $26.25 Million Stock Holdings in AT&T Inc. $T

Key Points

• Gotham Asset Management LLC increased its stake in AT&T Inc. by 21.4% during the first quarter, holding a total of 928,041 shares worth approximately $26.25 million.
• Analysts have set a consensus target price of $30.55 for AT&T, with ratings ranging from strong buy to sell.
• AT&T recently reported quarterly earnings of $0.54 EPS and a revenue of $30.85 billion, exceeding analysts' expectations, and announced a quarterly dividend of $0.2775 per share.

Gotham Asset Management LLC grew its stake in AT&T Inc. (NYSE:T - Free Report) by 21.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 928,041 shares of the technology company's stock after buying an additional 163,501 shares during the period. Gotham Asset Management LLC's holdings in AT&T were worth $26,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Greenline Partners LLC lifted its position in shares of AT&T by 2.0% during the 1st quarter. Greenline Partners LLC now owns 22,386 shares of the technology company's stock worth $633,000 after purchasing an additional 446 shares during the last quarter. Concorde Asset Management LLC acquired a new position in shares of AT&T during the 1st quarter worth about $220,000. Curi RMB Capital LLC lifted its position in shares of AT&T by 57.9% during the 1st quarter. Curi RMB Capital LLC now owns 23,758 shares of the technology company's stock worth $672,000 after purchasing an additional 8,713 shares during the last quarter. Bwcp LP lifted its position in shares of AT&T by 26.8% during the 1st quarter. Bwcp LP now owns 646,060 shares of the technology company's stock worth $18,271,000 after purchasing an additional 136,602 shares during the last quarter. Finally, Belmont Capital LLC acquired a new position in shares of AT&T during the 1st quarter worth about $566,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Scotiabank boosted 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. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America initiated coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Finally, UBS Group restated a "buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $30.55.

AT&T Price Performance

Shares of T stock traded down $0.02 during trading hours on Friday, hitting $29.57. The company had a trading volume of 25,102,560 shares, compared to its average volume of 27,138,470. AT&T Inc. has a 12 month low of $20.65 and a 12 month high of $29.79. The firm has a market capitalization of $211.40 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 3.66 and a beta of 0.44. The firm's fifty day moving average is $28.23 and its 200 day moving average is $27.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's dividend payout ratio is 63.07%.

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.