MJP Associates Inc. ADV Purchases 1,668 Shares of AT&T Inc. (NYSE:T)

MJP Associates Inc. ADV increased its position in shares of AT&T Inc. (NYSE:T) by 11.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,154 shares of the technology company’s stock after acquiring an additional 1,668 shares during the period. MJP Associates Inc. ADV’s holdings in AT&T were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of T. BlackRock Inc. raised its position in AT&T by 0.4% during the 1st quarter. BlackRock Inc. now owns 523,127,988 shares of the technology company’s stock worth $10,070,214,000 after purchasing an additional 1,985,371 shares during the last quarter. State Street Corp increased its stake in shares of AT&T by 0.5% in the first quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after buying an additional 1,567,008 shares during the period. Newport Trust Co raised its position in shares of AT&T by 0.7% during the first quarter. Newport Trust Co now owns 196,653,545 shares of the technology company’s stock worth $3,785,581,000 after acquiring an additional 1,337,195 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AT&T by 0.4% in the first quarter. Geode Capital Management LLC now owns 134,387,114 shares of the technology company’s stock worth $2,581,839,000 after acquiring an additional 530,478 shares during the period. Finally, Morgan Stanley boosted its holdings in AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after acquiring an additional 29,769,976 shares during the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.

AT&T Stock Down 0.4 %

Shares of NYSE:T traded down $0.06 during trading on Monday, reaching $15.17. 10,119,830 shares of the stock were exchanged, compared to its average volume of 38,912,426. The stock has a fifty day moving average of $14.46 and a two-hundred day moving average of $16.33. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $20.50. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $108.45 billion, a price-to-earnings ratio of -12.48, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $29.92 billion for the quarter, compared to the consensus estimate of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.43 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend was Friday, July 7th. AT&T’s dividend payout ratio (DPR) is presently -90.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on T shares. Moffett Nathanson upgraded shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price target on the stock in a research report on Tuesday, June 6th. Wells Fargo & Company dropped their target price on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, July 20th. Deutsche Bank Aktiengesellschaft decreased their price target on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price objective on shares of AT&T in a research note on Thursday, August 3rd. Finally, JPMorgan Chase & Co. lowered AT&T from an “overweight” rating to a “neutral” rating and cut their target price for the company from $22.00 to $17.00 in a research report on Friday, July 14th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.00.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.