Invenomic Capital Management LP Acquires Shares of 472,820 AT&T Inc. (NYSE:T)

Invenomic Capital Management LP acquired a new stake in shares of AT&T Inc. (NYSE:TGet Rating) in the fourth quarter, HoldingsChannel reports. The fund acquired 472,820 shares of the technology company’s stock, valued at approximately $11,631,000. AT&T accounts for approximately 2.5% of Invenomic Capital Management LP’s holdings, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Geode Capital Management LLC grew its position in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 123,218,974 shares of the technology company’s stock worth $3,023,357,000 after acquiring an additional 1,913,245 shares in the last quarter. Renaissance Group LLC grew its position in shares of AT&T by 12.3% in the 4th quarter. Renaissance Group LLC now owns 24,836 shares of the technology company’s stock worth $611,000 after acquiring an additional 2,711 shares in the last quarter. PFS Investments Inc. grew its position in shares of AT&T by 12.0% in the 4th quarter. PFS Investments Inc. now owns 663,852 shares of the technology company’s stock worth $16,331,000 after acquiring an additional 70,935 shares in the last quarter. Cibc World Markets Corp grew its position in shares of AT&T by 24.7% in the 4th quarter. Cibc World Markets Corp now owns 2,277,937 shares of the technology company’s stock worth $56,037,000 after acquiring an additional 450,709 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its position in shares of AT&T by 4.1% in the 4th quarter. Summit Trail Advisors LLC now owns 17,288 shares of the technology company’s stock worth $425,000 after acquiring an additional 673 shares in the last quarter. Hedge funds and other institutional investors own 53.47% of the company’s stock.

Shares of T stock traded up $0.19 on Friday, reaching $20.40. 47,415,765 shares of the company’s stock traded hands, compared to its average volume of 54,620,808. The business’s 50 day moving average price is $21.24 and its two-hundred day moving average price is $23.35. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.89 and a current ratio of 0.93. AT&T Inc. has a 12-month low of $16.62 and a 12-month high of $22.82. The company has a market capitalization of $146.04 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.58.

AT&T (NYSE:TGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The technology company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). AT&T had a return on equity of 13.19% and a net margin of 10.64%. The company had revenue of $38.10 billion during the quarter, compared to analyst estimates of $38.29 billion. During the same period in the prior year, the firm earned $0.86 EPS. AT&T’s quarterly revenue was down 13.2% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Thursday, April 14th were given a $0.278 dividend. The ex-dividend date was Wednesday, April 13th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.45%. AT&T’s dividend payout ratio is currently 46.84%.

Several research analysts have recently commented on the company. Raymond James decreased their target price on AT&T from $32.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, April 12th. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, April 25th. They issued a “buy” rating and a $23.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price target on AT&T from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, April 11th. Cowen cut their price target on AT&T from $33.00 to $29.00 and set a “market perform” rating on the stock in a report on Thursday, January 27th. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $34.00 to $22.00 in a report on Monday, April 11th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.29.

AT&T Company Profile (Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

Further Reading

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

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