Seven Eight Capital LP Takes Position in AT&T Inc. (NYSE:T)

Seven Eight Capital LP acquired a new position in shares of AT&T Inc. (NYSE:TFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 42,835 shares of the technology company’s stock, valued at approximately $719,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC bought a new position in AT&T during the fourth quarter valued at approximately $25,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T in the 3rd quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. Western Pacific Wealth Management LP bought a new position in shares of AT&T during the 4th quarter valued at $39,000. Finally, Financial Gravity Asset Management Inc. raised its position in AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after purchasing an additional 2,626 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on T shares. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Scotiabank increased their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Finally, Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.32.

Get Our Latest Stock Analysis on AT&T

AT&T Stock Down 1.3 %

Shares of AT&T stock opened at $17.86 on Tuesday. The company’s fifty day simple moving average is $17.17 and its two-hundred day simple moving average is $17.02. The company has a market cap of $128.06 billion, a P/E ratio of 9.60, a PEG ratio of 3.56 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.45.

AT&T (NYSE:TGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue was down .4% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.22%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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