AT&T Inc. (NYSE:T) Shares Purchased by Allstate Corp

Allstate Corp lifted its position in shares of AT&T Inc. (NYSE:T) by 46.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,194 shares of the technology company’s stock after acquiring an additional 7,668 shares during the period. Allstate Corp’s holdings in AT&T were worth $406,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in T. 1620 Investment Advisors Inc. acquired a new position in shares of AT&T during the fourth quarter valued at approximately $421,000. WBI Investments LLC bought a new position in shares of AT&T in the fourth quarter valued at $200,000. Frazier Financial Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at $53,000. Tidemark LLC bought a new position in shares of AT&T in the fourth quarter valued at $68,000. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of AT&T by 13.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 72,958 shares of the technology company’s stock valued at $1,224,000 after buying an additional 8,609 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on T. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, Citigroup upped their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Down 0.3 %

Shares of NYSE:T traded down $0.05 during midday trading on Thursday, reaching $17.45. 13,310,813 shares of the company were exchanged, compared to its average volume of 37,185,957. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The stock has a fifty day simple moving average of $17.03 and a two-hundred day simple moving average of $16.84. The firm has a market cap of $125.12 billion, a PE ratio of 9.38, a P/E/G ratio of 3.40 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

AT&T 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.