Tounjian Advisory Partners LLC Invests $3.63 Million in AT&T Inc. (NYSE:T)

Tounjian Advisory Partners LLC bought a new stake in AT&T Inc. (NYSE:T) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 128,398 shares of the technology company’s stock, valued at approximately $3,631,000.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.0% in the fourth 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 increased its position in AT&T by 1.6% in the 4th 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 during the period. GQG Partners LLC raised its stake in AT&T by 37.3% during 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 acquiring an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp lifted its position in AT&T by 7.1% during the 4th 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 acquiring an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new position in shares of AT&T in the 4th quarter valued at approximately $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE T opened at $28.09 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $202.12 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. AT&T Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $29.03. The business has a fifty day moving average of $27.32 and a 200-day moving average of $25.49.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio is presently 68.10%.

Wall Street Analysts Forecast Growth

T has been the subject of several analyst reports. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company raised their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Citigroup reissued a “buy” rating on shares of AT&T in a report on Monday, April 7th. Royal Bank of Canada boosted their target price on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

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.