GAMMA Investing LLC Acquires 4,530,433 Shares of AT&T Inc. (NYSE:T)

GAMMA Investing LLC boosted its holdings in AT&T Inc. (NYSE:T) by 3,166.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,673,496 shares of the technology company’s stock after acquiring an additional 4,530,433 shares during the quarter. GAMMA Investing LLC’s holdings in AT&T were worth $1,321,660,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in T. Capital A Wealth Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new position in AT&T during the 4th quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in AT&T in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new position in AT&T in the fourth quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on T. Evercore ISI lifted their target price on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research report on Thursday, February 13th. Scotiabank reissued an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Wells Fargo & Company raised their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Trading Down 0.5%

NYSE T opened at $27.38 on Friday. AT&T Inc. has a 12 month low of $17.16 and a 12 month high of $29.03. The stock has a 50-day simple moving average of $27.35 and a 200 day simple moving average of $25.23. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $196.98 billion, a PE ratio of 18.37, a P/E/G ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.05%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is presently 68.10%.

About AT&T

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.