Iron Gate Global Advisors LLC Makes New Investment in AT&T Inc. $T

Iron Gate Global Advisors LLC purchased a new stake in AT&T Inc. (NYSE:T) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,670 shares of the technology company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently made changes to their positions in T. Nuveen LLC acquired a new position in shares of AT&T in the 1st quarter valued at $1,072,128,000. GQG Partners LLC boosted its holdings in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.7%

NYSE:T opened at $29.21 on Thursday. The business’s 50-day moving average is $28.26 and its two-hundred day moving average is $27.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm has a market capitalization of $208.88 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the company posted $0.51 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America assumed coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. Sanford C. Bernstein lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Scotiabank upped their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Finally, Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.60.

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.