Keynote Financial Services LLC Buys New Position in AT&T Inc. (NYSE:T)

Keynote Financial Services LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 109,206 shares of the technology company’s stock, valued at approximately $1,922,000. AT&T makes up approximately 1.6% of Keynote Financial Services LLC’s portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in AT&T during the 4th quarter worth approximately $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in shares of AT&T in the fourth quarter worth $316,472,000. Kodai Capital Management LP acquired a new stake in AT&T in the fourth quarter valued at $152,109,000. Point72 Asset Management L.P. raised its holdings in AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after acquiring an additional 4,970,954 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in AT&T by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after acquiring an additional 4,014,873 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. The Goldman Sachs Group began coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Barclays raised their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Performance

AT&T stock traded down $0.10 during midday trading on Friday, reaching $19.37. 45,240,116 shares of the stock traded hands, compared to its average volume of 37,305,292. AT&T Inc. has a fifty-two week low of $13.89 and a fifty-two week high of $19.99. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $138.89 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 3.28 and a beta of 0.58. The firm has a fifty day moving average price of $18.49 and a two-hundred day moving average price of $17.56.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.