Aigen Investment Management LP Makes New Investment in AT&T Inc. (NYSE:T)

Aigen Investment Management LP purchased a new position in AT&T Inc. (NYSE:T) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 12,566 shares of the technology company’s stock, valued at approximately $355,000.

Several other institutional investors have also added to or reduced their stakes in T. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares during the period. Northern Trust Corp increased its holdings in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the period. Vanguard Group Inc. increased its holdings in AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after buying an additional 8,185,006 shares during the period. Finally, Marshall Wace LLP acquired a new position in AT&T in the 4th quarter worth approximately $160,747,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 0.3%

Shares of T opened at $28.40 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a one year low of $18.97 and a one year high of $29.19. The stock has a market capitalization of $203.07 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 3.53 and a beta of 0.42. The stock has a 50 day moving average price of $27.87 and a 200 day moving average price of $27.13.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T’s payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on T. Scotiabank increased their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a research report on Thursday, April 24th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.66.

About AT&T

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.