IFM Investors Pty Ltd Purchases 62,061 Shares of AT&T Inc. $T

IFM Investors Pty Ltd increased its stake in shares of AT&T Inc. (NYSE:T) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,434,428 shares of the technology company’s stock after purchasing an additional 62,061 shares during the quarter. IFM Investors Pty Ltd’s holdings in AT&T were worth $41,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. David J Yvars Group raised its stake in shares of AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after purchasing an additional 372 shares during the last quarter. AllSquare Wealth Management LLC raised its stake in shares of AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC raised its stake in shares of AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after purchasing an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc raised its stake in shares of AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after purchasing an additional 380 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC grew its holdings in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after acquiring an additional 384 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on T. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Stock Performance

Shares of NYSE T opened at $29.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a 50 day simple moving average of $28.41 and a 200-day simple moving average of $27.79. The company has a market cap of $208.83 billion, a PE ratio of 16.59, a P/E/G ratio of 3.65 and a beta of 0.44. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors 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 dividend payout ratio is currently 63.07%.

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.