Lester Murray Antman dba SimplyRich Purchases 9,042 Shares of AT&T Inc. (NYSE:T)

Key Points

• Lester Murray Antman significantly increased its position in AT&T Inc. by 67.4%, owning 22,456 shares worth $635,000 as of the last reporting period.
• Multiple large investors are boosting their stakes in AT&T, with Brighton Jones LLC increasing its holdings by 26.5% and other firms like Rollins Financial Advisors LLC raising theirs by 91.0% in the past quarter.
• AT&T reported better-than-expected quarterly earnings, with $0.54 EPS and revenue of $30.85 billion, along with a declared quarterly dividend yielding 4.0%.

Lester Murray Antman dba SimplyRich raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 67.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,456 shares of the technology company's stock after buying an additional 9,042 shares during the period. Lester Murray Antman dba SimplyRich's holdings in AT&T were worth $635,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Keystone Financial Group lifted its stake in AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC purchased a new stake in shares of AT&T in the first quarter worth approximately $201,000. DigitalBridge Group Inc. boosted its holdings in shares of AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after purchasing an additional 365,776 shares during the period. Wedmont Private Capital grew its position in AT&T by 7.9% during the first 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 in the last quarter. Finally, Xponance Inc. increased its stake in AT&T by 10.2% in the 1st 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 during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on T. Barclays boosted 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. Royal Bank Of Canada increased their price objective on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. Finally, Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.66.

AT&T Stock Performance

Shares of NYSE T traded down $0.30 during trading hours on Wednesday, reaching $27.47. The stock had a trading volume of 39,238,717 shares, compared to its average volume of 33,962,996. The company has a market cap of $196.45 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 3.44 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.97 and a twelve month high of $29.19. The business's fifty day moving average is $27.81 and its two-hundred day moving average is $26.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data 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 company 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%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is 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.