OVERSEA CHINESE BANKING Corp Ltd Grows Stock Position in AT&T Inc. (NYSE:T)

OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 1,416.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 174,463 shares of the technology company's stock after buying an additional 162,956 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in AT&T were worth $4,934,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in T. Core Alternative Capital boosted its holdings in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the period. Capital A Wealth Management LLC acquired a new position in AT&T in the 4th quarter valued at about $25,000. Minot DeBlois Advisors LLC acquired a new position in AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in AT&T in the 4th quarter valued at about $27,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in AT&T in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on T. UBS Group reaffirmed a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Oppenheimer increased 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. Bank of America initiated coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. Finally, Royal Bank Of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.12.

AT&T Trading Up 0.7%

Shares of T opened at $27.16 on Tuesday. The firm's 50 day simple moving average is $27.82 and its 200 day simple moving average is $26.38. The company has a market capitalization of $195.46 billion, a P/E ratio of 16.67, a P/E/G ratio of 3.37 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

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.

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