BluePointe Capital Management LLC Acquires New Position in AT&T Inc. (NYSE:T)

BluePointe Capital Management LLC acquired a new stake in AT&T Inc. (NYSE:T) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,999 shares of the technology company’s stock, valued at approximately $226,000.

Several other large investors have also bought and sold shares of the business. Minot DeBlois Advisors LLC bought a new position in AT&T in the fourth quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $27,000. Hager Investment Management Services LLC lifted its stake in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the last quarter. Finally, Core Alternative Capital lifted its stake in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on T. Barclays boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Evercore ISI upped their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Finally, Scotiabank upped their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.12.

AT&T Stock Up 0.7%

Shares of AT&T stock opened at $27.16 on Tuesday. The company’s fifty day simple moving average is $27.82 and its two-hundred day simple moving average is $26.38. The company has a market cap of $195.46 billion, a P/E ratio of 16.67, a PEG ratio of 3.37 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio is presently 68.10%.

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.