27,380 Shares in AT&T Inc. (NYSE:T) Acquired by J.P. Marvel Investment Advisors LLC

Key Points

• J.P. Marvel Investment Advisors LLC acquired a new stake in AT&T Inc., purchasing 27,380 shares valued at approximately $774,000 during the first quarter.
• AT&T recently reported earnings of $0.54 per share, exceeding analysts' estimates and showing a 3.4% year-over-year revenue increase to $30.85 billion.
• The company announced a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.98% with a payout ratio of 68.10%.

J.P. Marvel Investment Advisors LLC bought a new stake in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,380 shares of the technology company's stock, valued at approximately $774,000.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Virtu Financial LLC acquired a new stake in AT&T during the 4th quarter valued at approximately $392,000. TIAA Trust National Association boosted its holdings in shares of AT&T by 1.8% during the 4th quarter. TIAA Trust National Association now owns 229,986 shares of the technology company's stock worth $5,237,000 after buying an additional 4,081 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its holdings in shares of AT&T by 58.4% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 25,546 shares of the technology company's stock worth $582,000 after purchasing an additional 9,418 shares in the last quarter. Finally, Heritage Wealth Advisors raised its position in AT&T by 24.3% in the 4th quarter. Heritage Wealth Advisors now owns 3,836 shares of the technology company's stock valued at $87,000 after buying an additional 751 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Down 1.3%

Shares of T stock traded down $0.38 during trading hours on Monday, reaching $27.63. The company had a trading volume of 14,170,796 shares, compared to its average volume of 38,013,563. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock's fifty day simple moving average is $27.81 and its 200 day simple moving average is $26.68. AT&T Inc. has a twelve month low of $18.64 and a twelve month high of $29.19. The company has a market capitalization of $198.78 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 3.49 and a beta of 0.42.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.02%. AT&T's payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group reiterated a "buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. JPMorgan Chase & Co. upped their price target on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday. TD Securities increased their target price on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Barclays upped their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $29.66.

About AT&T

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.