Quintet Private Bank Europe S.A. Buys 300,730 Shares of AT&T Inc. (NYSE:T)

Quintet Private Bank Europe S.A. grew its position in AT&T Inc. (NYSE:T - Free Report) by 191.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 457,745 shares of the technology company's stock after acquiring an additional 300,730 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in AT&T were worth $12,945,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. NorthCrest Asset Manangement LLC lifted its position in shares of AT&T by 10.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 87,262 shares of the technology company's stock worth $2,468,000 after acquiring an additional 8,532 shares during the period. Ferguson Wellman Capital Management Inc. lifted its position in shares of AT&T by 2.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 1,493,285 shares of the technology company's stock worth $42,230,000 after buying an additional 41,623 shares during the period. Defined Financial Planning LLC bought a new position in shares of AT&T during the 1st quarter worth approximately $229,000. FMB Wealth Management bought a new position in shares of AT&T during the 1st quarter worth approximately $211,000. Finally, Kelly Financial Services LLC bought a new position in shares of AT&T during the 1st quarter worth approximately $229,000. Institutional investors own 57.10% of the company's stock.

AT&T Trading Down 0.5%

Shares of NYSE T traded down $0.14 during midday trading on Friday, hitting $28.13. The stock had a trading volume of 22,422,913 shares, compared to its average volume of 36,609,434. The company's 50-day simple moving average is $27.38 and its 200 day simple moving average is $25.59. The firm has a market cap of $202.43 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. AT&T Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T - Get Free Report) last released its 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 firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.14 EPS 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. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. AT&T's dividend payout ratio (DPR) is currently 68.10%.

Analysts Set New Price Targets

Several research firms recently commented on T. Wells Fargo & Company raised their target price on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Evercore ISI raised their target price on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Finally, Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.