Infrastructure Capital Advisors LLC lifted its holdings in AT&T Inc. (NYSE:T – Free Report) by 16.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,362 shares of the technology company’s stock after purchasing an additional 9,182 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in AT&T were worth $1,239,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of T. Ontario Teachers Pension Plan Board bought a new stake in AT&T in the first quarter worth $868,000. Point72 Europe London LLP bought a new stake in shares of AT&T during the fourth quarter worth $28,443,000. Great Lakes Advisors LLC lifted its position in shares of AT&T by 195.8% during the first quarter. Great Lakes Advisors LLC now owns 416,107 shares of the technology company’s stock worth $8,010,000 after purchasing an additional 275,431 shares during the last quarter. Hills Bank & Trust Co lifted its position in shares of AT&T by 147.1% during the first quarter. Hills Bank & Trust Co now owns 38,395 shares of the technology company’s stock worth $739,000 after purchasing an additional 22,854 shares during the last quarter. Finally, Atria Investments Inc lifted its position in shares of AT&T by 21.9% during the first quarter. Atria Investments Inc now owns 447,498 shares of the technology company’s stock worth $8,618,000 after purchasing an additional 80,329 shares during the last quarter. 53.65% of the stock is owned by hedge funds and other institutional investors.
AT&T Price Performance
T opened at $14.40 on Friday. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $20.50. The firm has a market capitalization of $102.95 billion, a PE ratio of -11.80, a price-to-earnings-growth ratio of 1.79 and a beta of 0.64. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. The business’s 50-day moving average is $14.58 and its two-hundred day moving average is $16.52.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.71%. AT&T’s payout ratio is -90.98%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. HSBC decreased their target price on AT&T from $21.00 to $19.00 in a research report on Monday, June 5th. Deutsche Bank Aktiengesellschaft decreased their target price on AT&T from $23.00 to $22.00 in a research report on Friday, July 14th. Royal Bank of Canada decreased their target price on AT&T from $19.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, August 10th. Argus lowered AT&T from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, JPMorgan Chase & Co. lowered AT&T from an “overweight” rating to a “neutral” rating and cut their price target for the company from $22.00 to $17.00 in a research note on Friday, July 14th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Hold” and an average target price of $20.00.
Check Out Our Latest Report on AT&T
About AT&T
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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