AT&T Inc. (NYSE:T) Shares Acquired by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. grew its holdings in AT&T Inc. (NYSE:T) by 191.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 457,745 shares of the technology company’s stock after buying an additional 300,730 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in AT&T were worth $12,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC lifted its stake in shares of AT&T by 10.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 87,262 shares of the technology company’s stock worth $2,468,000 after purchasing an additional 8,532 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in shares of AT&T by 2.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,493,285 shares of the technology company’s stock worth $42,230,000 after buying an additional 41,623 shares during the period. Defined Financial Planning LLC acquired a new position in shares of AT&T during the first quarter worth approximately $229,000. FMB Wealth Management acquired a new stake in AT&T in the first quarter worth approximately $211,000. Finally, Kelly Financial Services LLC acquired a new stake in AT&T in the first quarter worth approximately $229,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. TD Securities upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. Evercore ISI upped their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. Finally, Scotiabank restated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Down 0.3%

T opened at $28.25 on Friday. 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’s 50-day moving average is $27.38 and its 200 day moving average is $25.59. AT&T Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $29.03. The firm has a market capitalization of $203.28 billion, a P/E ratio of 18.96, a PEG ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T) last posted 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 return on equity of 13.97% and a net margin of 8.95%. 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 firm posted $0.55 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research 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 disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.93%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio is 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.