RPG Investment Advisory LLC Invests $464,000 in AT&T Inc. $T

Key Points

• RPG Investment Advisory LLC has acquired a new stake in AT&T, purchasing 16,424 shares valued at approximately $464,000.
• Analysts are optimistic, with Wells Fargo and JPMorgan raising their price targets for AT&T shares to $31 and $33, respectively, while the stock holds an average rating of "Moderate Buy".
• AT&T announced a quarterly dividend of $0.2775 per share, yielding 3.8%, with a payout ratio of 63.07%.

RPG Investment Advisory LLC bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,424 shares of the technology company's stock, valued at approximately $464,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock valued at $18,411,543,000 after acquiring an additional 8,185,006 shares during the last quarter. GQG Partners LLC raised its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. Northern Trust Corp raised its holdings in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 purchasing an additional 12,881,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock valued at $1,508,411,000 after purchasing an additional 1,307,009 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Raymond James Financial restated a "strong-buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Morgan Stanley upped their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price target on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Finally, Scotiabank upped their price target on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, AT&T has an average rating of "Moderate Buy" and a consensus target price of $30.21.

AT&T Trading Down 2.4%

T stock traded down $0.7110 during midday trading on Friday, hitting $28.7290. 33,993,083 shares of the company's stock were exchanged, compared to its average volume of 30,014,602. The business has a 50-day simple moving average of $27.99 and a two-hundred day simple moving average of $27.38. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $205.42 billion, a PE ratio of 16.32, a P/E/G ratio of 3.56 and a beta of 0.42. AT&T Inc. has a 1-year low of $19.51 and a 1-year high of $29.65.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 63.07%.

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.