Northwest & Ethical Investments L.P. Increases Stock Holdings in AT&T Inc. (NYSE:T)

Key Points

• Northwest & Ethical Investments L.P. increased its stake in AT&T by 33.2%, owning 406,451 shares valued at approximately $11.49 million after acquiring an additional 101,202 shares in Q1.
• AT&T reported a quarterly EPS of $0.54, exceeding analysts' expectations, with a revenue of $30.85 billion—a 3.4% increase year-over-year.
• The company declared a quarterly dividend of $0.2775 per share, representing an annualized dividend of $1.11 and a yield of 3.8%.

Northwest & Ethical Investments L.P. lifted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 406,451 shares of the technology company's stock after buying an additional 101,202 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in AT&T were worth $11,494,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of T. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter worth approximately $25,000. Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in AT&T during the 1st quarter worth approximately $29,000. Core Alternative Capital increased its holdings in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.5%

Shares of T stock opened at $28.89 on Friday. 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 1 year low of $19.08 and a 1 year high of $29.19. The stock has a fifty day moving average of $27.90 and a two-hundred day moving average of $27.21. The firm has a market capitalization of $206.57 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 3.57 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly 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 company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS 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 given 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 Upgrades and Downgrades

Several research analysts have recently commented on the company. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Royal Bank Of Canada lifted their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Tigress Financial lifted their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America assumed coverage on AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price for the company. Finally, UBS Group reiterated a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

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.

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.