Dynamic Technology Lab Private Ltd Makes New $967,000 Investment in AT&T Inc. (NYSE:T)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of AT&T Inc. (NYSE:T) in the fourth quarter, Holdings Channel.com reports. The firm acquired 42,459 shares of the technology company’s stock, valued at approximately $967,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in AT&T during the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC grew its stake in shares of AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Assetmark Inc. increased its holdings in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after buying an additional 5,649,277 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on T. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. Tigress Financial lifted their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Citigroup increased their price target on AT&T from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Royal Bank of Canada boosted their price objective on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 19th. Finally, UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.21.

AT&T Price Performance

NYSE:T opened at $26.65 on Monday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $29.03. The stock’s fifty day moving average is $26.26 and its two-hundred day moving average is $23.76. The company has a market capitalization of $191.27 billion, a P/E ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. AT&T’s dividend payout ratio is presently 74.50%.

AT&T 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.