Neo Ivy Capital Management Takes $2.09 Million Position in AT&T Inc. (NYSE:T)

Key Points

• Neo Ivy Capital Management has acquired a new stake of approximately $2.09 million in AT&T Inc. during the first quarter, adding 74,018 shares to its portfolio.
• A majority of AT&T's stock is held by institutional investors, with 57.10% of shares currently owned by them, indicating strong institutional interest in the company.
• AT&T plans to pay a quarterly dividend of $0.2775, resulting in an annualized yield of 3.96%, with the ex-dividend date set for July 10th.

Neo Ivy Capital Management purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 74,018 shares of the technology company's stock, valued at approximately $2,093,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. raised its holdings in AT&T by 3.3% in the 1st quarter. Assetmark Inc. now owns 10,245,514 shares of the technology company's stock worth $289,743,000 after purchasing an additional 331,554 shares during the period. ANB Bank bought a new position in AT&T in the 1st quarter worth $206,000. Cetera Investment Advisers raised its holdings in AT&T by 10.2% in the 1st quarter. Cetera Investment Advisers now owns 2,994,437 shares of the technology company's stock worth $84,683,000 after purchasing an additional 276,012 shares during the period. Brookwood Investment Group LLC bought a new position in AT&T in the 1st quarter worth $1,059,000. Finally, One Wealth Advisors LLC raised its position in shares of AT&T by 3.4% during the 1st quarter. One Wealth Advisors LLC now owns 17,647 shares of the technology company's stock valued at $499,000 after purchasing an additional 586 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 1.2%

NYSE T traded down $0.33 during trading on Monday, hitting $27.68. The stock had a trading volume of 13,040,941 shares, compared to its average volume of 38,003,594. 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 has a market capitalization of $199.14 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 3.49 and a beta of 0.42. AT&T Inc. has a one year low of $18.64 and a one year high of $29.19. The stock has a 50 day simple moving average of $27.81 and a 200 day simple moving average of $26.68.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is presently 63.07%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.66.

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.