42,459 Shares in AT&T Inc. (NYSE:T) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 42,459 shares of the technology company’s stock, valued at approximately $967,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in AT&T during the 4th quarter valued at approximately $1,858,418,000. GQG Partners LLC increased its position in AT&T by 37.3% in the fourth 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 last quarter. Assetmark Inc. raised its stake in AT&T by 4,986.1% during the fourth 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 position in AT&T by 1.0% during the fourth 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 last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.1% in the 4th 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 own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on T. Tigress Financial increased their price target on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research report on Thursday, February 13th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Scotiabank lifted their price target on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Stock Down 6.8 %

Shares of AT&T stock opened at $26.65 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market cap of $191.27 billion, a P/E ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42. The firm’s 50 day moving average price is $26.26 and its 200-day moving average price is $23.76. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $29.03.

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

AT&T Announces Dividend

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