Novem Group Purchases Shares of 32,623 AT&T Inc. (NYSE:T)

Novem Group purchased a new position in AT&T Inc. (NYSE:T - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,623 shares of the technology company's stock, valued at approximately $743,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in AT&T in the fourth quarter worth approximately $1,858,418,000. GQG Partners LLC increased its stake in shares of AT&T by 37.3% during 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 buying an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Northern Trust Corp lifted its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Finally, Assetmark Inc. increased its position in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.8%

NYSE T traded up $0.22 on Friday, reaching $27.45. 31,763,115 shares of the company were exchanged, compared to its average volume of 36,763,597. The business's fifty day moving average price is $27.29 and its 200 day moving average price is $25.05. The stock has a market capitalization of $197.50 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.04%. The ex-dividend date was Thursday, April 10th. AT&T's payout ratio is 68.10%.

Analyst Upgrades and Downgrades

T has been the subject of a number of analyst reports. Scotiabank restated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. TD Securities increased their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Finally, Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.71.

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.