1,250,000 Shares in AT&T Inc. (NYSE:T) Purchased by Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,250,000 shares of the technology company's stock, valued at approximately $23,888,000.

A number of other institutional investors have also recently bought and sold shares of T. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of AT&T during the 4th quarter valued at about $11,554,000. Clearbridge Investments LLC lifted its holdings in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company's stock valued at $1,129,000 after buying an additional 48,091 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company's stock valued at $19,827,000 after buying an additional 43,062 shares during the last quarter. M&G Plc acquired a new stake in shares of AT&T during the 1st quarter valued at about $9,074,000. Finally, DRW Securities LLC lifted its holdings in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company's stock valued at $1,997,000 after buying an additional 90,255 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BNP Paribas upgraded AT&T from an "underperform" rating to a "neutral" rating in a report on Tuesday, June 11th. Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the stock a "sector perform" rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They issued a "buy" rating and a $22.00 target price for the company. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Finally, Redburn Atlantic raised AT&T to a "strong sell" rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of "Hold" and a consensus price target of $22.31.

AT&T Price Performance

AT&T stock traded down $0.06 on Monday, reaching $21.48. The company's stock had a trading volume of 25,544,713 shares, compared to its average volume of 36,404,547. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market cap of $154.02 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 3.79 and a beta of 0.59. The business's fifty day moving average price is $19.94 and its 200 day moving average price is $18.38. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The firm's revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.17%. AT&T's dividend payout ratio is presently 59.68%.

AT&T Company 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.