11,378 Shares in AT&T Inc. (NYSE:T) Purchased by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. acquired a new position in AT&T Inc. (NYSE:T) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 11,378 shares of the technology company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also made changes to their positions in T. Vanguard Group Inc. lifted its holdings in AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after purchasing an additional 4,014,873 shares in the last quarter. Norges Bank purchased a new position in AT&T in the 4th quarter valued at about $1,118,288,000. Charles Schwab Investment Management Inc. lifted its holdings in AT&T by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after purchasing an additional 798,024 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in AT&T by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after purchasing an additional 1,137,792 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

T traded up $0.22 during trading hours on Thursday, hitting $19.47. 44,359,824 shares of the stock were exchanged, compared to its average volume of 36,794,688. The stock has a 50-day simple moving average of $18.46 and a 200-day simple moving average of $17.53. AT&T Inc. has a 12 month low of $13.89 and a 12 month high of $19.74. The stock has a market cap of $139.60 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 3.20 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period last year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on T shares. Barclays upped their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Scotiabank upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.