XTX Topco Ltd Acquires Shares of 48,424 AT&T Inc. (NYSE:T)

Key Points

• XTX Topco Ltd acquired a new stake in AT&T Inc., purchasing 48,424 shares valued at approximately $1.37 million.
• AT&T's recent quarterly earnings report showed a revenue increase of 3.4% year-over-year, with earnings per share of $0.54, slightly above analyst expectations.
• The company announced a quarterly dividend of $0.2775, reflecting an annualized yield of 4.1% and a payout ratio of 63.07%.

XTX Topco Ltd bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,424 shares of the technology company's stock, valued at approximately $1,369,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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. Northern Trust Corp increased its position 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. Invesco Ltd. increased its position in shares of AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after acquiring an additional 7,347,354 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $160,747,000. Finally, Bridgewater Associates LP increased its position in shares of AT&T by 402.3% during the fourth quarter. Bridgewater Associates LP now owns 6,478,108 shares of the technology company's stock valued at $147,507,000 after acquiring an additional 5,188,460 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on T. Morgan Stanley increased 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. Evercore ISI increased their price target on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Bank of America assumed coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. Tigress Financial raised their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Price Performance

NYSE:T traded up $0.35 during trading hours on Friday, hitting $27.76. 38,807,241 shares of the company's stock traded hands, compared to its average volume of 31,627,860. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The business's fifty day simple moving average is $27.80 and its two-hundred day simple moving average is $26.81. AT&T Inc. has a 52 week low of $18.64 and a 52 week high of $29.19. The firm has a market cap of $198.49 billion, a P/E ratio of 15.77, a P/E/G ratio of 3.40 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. AT&T's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is presently 63.07%.

About AT&T

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.