IFM Investors Pty Ltd Acquires 2,462 Shares of AT&T Inc. $T

IFM Investors Pty Ltd lifted its position in AT&T Inc. (NYSE:T) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,372,367 shares of the technology company’s stock after purchasing an additional 2,462 shares during the quarter. IFM Investors Pty Ltd’s holdings in AT&T were worth $38,811,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capstone Wealth Management LLC purchased a new position in AT&T during the 1st quarter valued at about $201,000. Wedmont Private Capital boosted its position in shares of AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock valued at $3,302,000 after acquiring an additional 9,027 shares during the last quarter. Xponance Inc. lifted its position in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after purchasing an additional 102,419 shares in the last quarter. NBT Bank N A NY raised its holdings in AT&T by 7.5% during the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock worth $3,660,000 after purchasing an additional 8,989 shares in the last quarter. Finally, Park Edge Advisors LLC purchased a new position in AT&T in the 1st quarter valued at $1,000,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, UBS Group set a $32.00 target price on AT&T in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.60.

AT&T Price Performance

AT&T stock opened at $29.43 on Wednesday. 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 1 year low of $21.05 and a 1 year high of $29.79. The company has a market capitalization of $210.44 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44. The company’s 50 day simple moving average is $28.24 and its 200-day simple moving average is $27.68.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T’s dividend payout ratio is currently 63.07%.

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.