7,716 Shares in AT&T Inc. (NYSE:T) Acquired by Bank of Stockton

by · The Cerbat Gem

Bank of Stockton purchased a new stake in AT&T Inc. (NYSE:T – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,716 shares of the technology company’s stock, valued at approximately $218,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after acquiring an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Norges Bank purchased a new stake in shares of AT&T in the 4th quarter valued at about $1,858,418,000. Finally, Northern Trust Corp boosted its position in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $27.93 on Thursday. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.03. The stock has a market cap of $200.97 billion, a P/E ratio of 17.13, a P/E/G ratio of 4.01 and a beta of 0.41. The stock’s 50 day simple moving average is $27.59 and its 200 day simple moving average is $25.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65.

AT&T (NYSE:T – Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share 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 9.64% and a return on equity of 13.63%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.97%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Finally, Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.76.

View Our Latest Report on T

About AT&T

(Free Report)

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.

Read More