AT&T Inc. (NYSE:T) Shares Acquired by Alexander Labrunerie & CO. Inc.

Alexander Labrunerie & CO. Inc. lifted its position in shares of AT&T Inc. (NYSE:T) by 12.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,784 shares of the technology company’s stock after buying an additional 4,092 shares during the period. Alexander Labrunerie & CO. Inc.’s holdings in AT&T were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Minot DeBlois Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the fourth quarter worth $27,000. Hager Investment Management Services LLC grew its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares in the last quarter. Finally, Core Alternative Capital grew its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on T shares. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Scotiabank boosted their price target on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. Finally, Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

AT&T Stock Performance

Shares of T opened at $26.95 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The company has a market capitalization of $193.92 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.37 and a beta of 0.42. The company’s 50 day simple moving average is $27.76 and its 200 day simple moving average is $26.41. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19.

AT&T (NYSE:T) last posted 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 company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T’s dividend payout ratio is currently 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.