Monument Capital Management Raises Stake in AT&T Inc. (NYSE:T)

Monument Capital Management boosted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 53.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 34,916 shares of the technology company's stock after purchasing an additional 12,171 shares during the period. Monument Capital Management's holdings in AT&T were worth $987,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of T. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after acquiring an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. Norges Bank purchased a new stake in shares of AT&T in the fourth quarter valued at about $1,858,418,000. Finally, Northern Trust Corp boosted its holdings in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Securities lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Wells Fargo & Company upped their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. UBS Group restated a "buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Barclays upped their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and an average target price of $28.90.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $28.08 on Monday. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The company has a market capitalization of $202.02 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 3.98 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm's 50-day moving average is $27.63 and its two-hundred day moving average is $25.97.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) 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 firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the business posted $0.55 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T's dividend payout ratio (DPR) is currently 68.10%.

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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.