Point72 Asia Singapore Pte. Ltd. Purchases Shares of 124,698 AT&T Inc. (NYSE:T)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 124,698 shares of the technology company’s stock, valued at approximately $2,839,000. AT&T makes up about 0.7% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 26th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Consolidated Planning Corp increased its stake in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after buying an additional 21,927 shares in the last quarter. Keystone Financial Group raised its position in shares of AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after purchasing an additional 143,744 shares during the period. World Investment Advisors lifted its stake in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after buying an additional 63,359 shares in the last quarter. Fortress Financial Solutions LLC acquired a new position in AT&T in the 4th quarter worth $691,000. Finally, DigitalBridge Group Inc. raised its position in AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after buying an additional 365,776 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 0.2%

Shares of NYSE T opened at $26.49 on Thursday. AT&T Inc. has a 1 year low of $17.11 and a 1 year high of $29.03. The stock has a market capitalization of $190.61 billion, a P/E ratio of 17.78, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a 50-day moving average price of $27.15 and a 200-day moving average price of $24.83.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is 68.10%.

Wall Street Analyst Weigh In

Several research analysts recently commented on T shares. Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, January 16th. Sanford C. Bernstein upped their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Finally, Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

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.