Moore Capital Management LP Acquires Shares of 51,074 AT&T Inc. (NYSE:T)

Moore Capital Management LP bought a new stake in AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 51,074 shares of the technology company's stock, valued at approximately $1,163,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 valued at $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC raised its position in AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares in the last quarter. GQG Partners LLC boosted its holdings in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 worth $1,948,943,000 after buying an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new position in AT&T during the fourth quarter valued at about $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of analyst reports. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective on the stock in a report on Thursday, February 13th. Royal Bank of Canada lifted their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Cowen reiterated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $28.71.

AT&T Stock Up 3.3%

Shares of T stock traded up $0.87 during trading on Thursday, reaching $27.31. The company's stock had a trading volume of 35,254,830 shares, compared to its average volume of 36,735,060. AT&T Inc. has a one year low of $17.11 and a one year high of $29.03. The business has a fifty day moving average price of $27.15 and a 200-day moving average price of $24.83. The company has a market cap of $196.51 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last issued its quarterly 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 business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.06%. AT&T's dividend payout ratio is 68.10%.

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.