Diversified Trust Co Grows Stock Position in AT&T Inc. (NYSE:T)

Diversified Trust Co grew its holdings in shares of AT&T Inc. (NYSE:T) by 12.5% in the first quarter, HoldingsChannel reports. The fund owned 147,249 shares of the technology company’s stock after purchasing an additional 16,355 shares during the quarter. Diversified Trust Co’s holdings in AT&T were worth $2,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in AT&T in the 4th quarter worth $1,118,288,000. Ameriprise Financial Inc. grew its position in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. Thornburg Investment Management Inc. bought a new stake in AT&T during the 4th quarter valued at approximately $316,472,000. Kodai Capital Management LP purchased a new position in AT&T in the 4th quarter worth approximately $152,109,000. Finally, Point72 Asset Management L.P. boosted its stake in AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of several research analyst reports. Barclays raised 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. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Finally, Scotiabank raised their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.73.

AT&T Stock Performance

AT&T stock opened at $18.98 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market capitalization of $136.09 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The company’s 50-day moving average is $17.57 and its 200 day moving average is $17.18.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping 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 firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.85%. AT&T’s payout ratio is 59.68%.

About AT&T

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.