Greenland Capital Management LP Takes Position in AT&T Inc. (NYSE:T)

Greenland Capital Management LP purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 420,619 shares of the technology company's stock, valued at approximately $9,577,000. AT&T comprises 1.5% of Greenland Capital Management LP's portfolio, making the stock its 10th biggest position.

Several other large investors also recently bought and sold shares of T. Vanguard Group Inc. raised its position in shares of AT&T by 1.0% during 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 buying an additional 6,220,442 shares during the period. Geode Capital Management LLC boosted its position in shares of AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after buying an additional 2,640,644 shares during the period. GQG Partners LLC boosted its holdings in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new position in AT&T in the 4th quarter valued at approximately $1,858,418,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on T shares. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Monday, April 7th. DZ Bank upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research note on Wednesday, January 29th. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Morgan Stanley raised AT&T from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Royal Bank of Canada boosted their price objective on shares of AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.24.

AT&T Price Performance

T traded up $0.40 on Friday, hitting $26.79. 32,053,085 shares of the company were exchanged, compared to its average volume of 36,912,136. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market capitalization of $192.29 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The business's fifty day moving average is $26.59 and its 200 day moving average is $23.97.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.14%. AT&T's dividend payout ratio (DPR) is presently 74.50%.

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.