Intech Investment Management LLC Purchases 25,946 Shares of AT&T Inc. $T

Key Points

• Intech Investment Management LLC increased its stake in AT&T Inc. by 6.9%, acquiring an additional 25,946 shares, bringing its total holdings to 403,792 shares valued at approximately $11.4 million.
• AT&T reported a quarterly earnings of $0.54 EPS, exceeding analysts' expectations of $0.53 EPS, with revenue of $30.85 billion, reflecting a 3.4% year-over-year growth.
• The company declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend yield of 3.8%.

Intech Investment Management LLC boosted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 403,792 shares of the technology company's stock after purchasing an additional 25,946 shares during the period. Intech Investment Management LLC's holdings in AT&T were worth $11,419,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of T. Capstone Wealth Management LLC bought a new stake in shares of AT&T during the 1st quarter valued at approximately $201,000. Wedmont Private Capital lifted its stake in AT&T by 7.9% in the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after purchasing an additional 9,027 shares during the last quarter. Xponance Inc. boosted its position in AT&T by 10.2% in the first 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 in the last quarter. NBT Bank N A NY boosted its position in AT&T by 7.5% in the first 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 in the last quarter. Finally, Park Edge Advisors LLC bought a new stake in shares of AT&T during the first quarter worth $1,000,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Down 0.7%

NYSE:T opened at $29.21 on Thursday. The firm's fifty day moving average is $28.26 and its 200-day moving average is $27.69. 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 Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a market cap of $208.88 billion, a P/E ratio of 16.60, a P/E/G ratio of 3.66 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The company 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%.The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on T. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target on the stock. Sanford C. Bernstein boosted their price target on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Finally, Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. One equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $30.60.

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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