Entropy Technologies LP Boosts Stake in AT&T Inc. (NYSE:T)

Entropy Technologies LP boosted its stake in shares of AT&T Inc. (NYSE:T) by 107.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,600 shares of the technology company’s stock after purchasing an additional 93,392 shares during the period. Entropy Technologies LP’s holdings in AT&T were worth $3,973,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its position in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its position in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. grew its position in shares of AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in AT&T during the 2nd quarter valued at approximately $78,570,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Wells Fargo & Company cut their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Evercore ISI raised their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Down 0.1 %

Shares of T opened at $22.31 on Tuesday. The firm has a market capitalization of $160.08 billion, a P/E ratio of 18.14, a P/E/G ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.51 and a 12-month high of $22.73. The firm has a fifty day moving average price of $21.70 and a 200-day moving average price of $19.56. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the company earned $0.64 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

AT&T Company Profile

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.