Adalta Capital Management LLC Takes Position in AT&T Inc. $T

Adalta Capital Management LLC purchased a new stake in AT&T Inc. (NYSE:T) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,785 shares of the technology company’s stock, valued at approximately $164,000.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in AT&T in the first quarter worth approximately $25,000. Hager Investment Management Services LLC grew its position in 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 during the period. IMA Advisory Services Inc. purchased a new position in AT&T in the first quarter worth approximately $29,000. Core Alternative Capital lifted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $25,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 0.1%

AT&T stock opened at $29.57 on Monday. AT&T Inc. has a 1-year low of $20.65 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $211.40 billion, a PE ratio of 16.80, a P/E/G ratio of 3.66 and a beta of 0.44. The stock’s fifty day moving average is $28.23 and its two-hundred day moving average is $27.65.

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. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Scotiabank upped their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. Sanford C. Bernstein increased 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. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.55.

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.