Key Colony Management LLC Purchases 10,000 Shares of AT&T Inc. (NYSE:T)

Key Colony Management LLC boosted its stake in AT&T Inc. (NYSE:T) by 100.0% during the 1st quarter, HoldingsChannel reports. The fund owned 20,000 shares of the technology company’s stock after buying an additional 10,000 shares during the period. AT&T comprises 0.9% of Key Colony Management LLC’s portfolio, making the stock its 5th largest position. Key Colony Management LLC’s holdings in AT&T were worth $566,000 at the end of the most recent quarter.

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

AT&T Price Performance

Shares of NYSE T opened at $27.38 on Friday. AT&T Inc. has a twelve month low of $17.16 and a twelve month high of $29.03. 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 price-to-earnings ratio of 18.37, a PEG ratio of 3.00 and a beta of 0.42. The firm has a 50-day moving average of $27.35 and a two-hundred day moving average of $25.23.

AT&T (NYSE:T) last issued 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). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the company posted $0.55 earnings per share. AT&T’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on T shares. Royal Bank of Canada boosted their target price on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Citigroup restated a “buy” rating on shares of AT&T in a research report on Monday, April 7th. Finally, Evercore ISI upped their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

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.