Park Edge Advisors LLC Purchases New Shares in AT&T Inc. (NYSE:T)

Park Edge Advisors LLC acquired a new position in AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,349 shares of the technology company's stock, valued at approximately $1,000,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the period. Geode Capital Management LLC lifted its position in AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after acquiring an additional 2,640,644 shares during the last quarter. GQG Partners LLC lifted its position in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, Norges Bank acquired a new stake in shares of AT&T in the fourth quarter valued at about $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Scotiabank reiterated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Royal Bank of Canada raised their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Tigress Financial boosted their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Price Performance

NYSE:T traded up $0.40 during trading hours on Thursday, reaching $27.76. The company had a trading volume of 29,163,177 shares, compared to its average volume of 36,671,329. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average of $27.34 and a two-hundred day moving average of $25.38. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03. The firm has a market capitalization of $199.72 billion, a PE ratio of 18.63, a PEG ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last posted its earnings results 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 firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's dividend payout ratio (DPR) is currently 68.10%.

AT&T 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.