Vident Advisory LLC Grows Stock Holdings in AT&T Inc. $T

Key Points

• Vident Advisory LLC increased its stake in AT&T Inc. by 1.5%, owning 641,278 shares worth approximately $18.14 million at the end of the first quarter.
• AT&T reported earnings per share (EPS) of $0.54 for the last quarter, exceeding expectations, along with revenue of $30.85 billion, up 3.4% year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, representing a yield of 3.8%, with a payout ratio of 63.07%.

Vident Advisory LLC raised its position in shares of AT&T Inc. (NYSE:T - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 641,278 shares of the technology company's stock after buying an additional 9,667 shares during the quarter. Vident Advisory LLC's holdings in AT&T were worth $18,136,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capstone Wealth Management LLC purchased a new position in AT&T during the 1st quarter valued at about $201,000. DigitalBridge Group Inc. lifted its holdings in shares of AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after purchasing an additional 9,027 shares during the last quarter. Xponance Inc. boosted its position in shares of AT&T by 10.2% in the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock worth $31,389,000 after purchasing an additional 102,419 shares in the last quarter. Finally, NBT Bank N A NY grew its stake in shares of AT&T by 7.5% in the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock worth $3,660,000 after buying an additional 8,989 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.21.

AT&T Stock Performance

T stock traded up $0.35 during midday trading on Friday, reaching $29.29. 26,535,515 shares of the company's stock traded hands, compared to its average volume of 29,711,526. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52-week low of $19.62 and a 52-week high of $29.65. The stock has a market cap of $209.43 billion, a P/E ratio of 16.64, a PEG ratio of 3.62 and a beta of 0.42. The stock's 50-day moving average is $28.11 and its 200 day moving average is $27.52.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T's dividend payout ratio (DPR) is 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.