MJP Associates Inc. ADV Acquires 988 Shares of AT&T Inc. (NYSE:T)

MJP Associates Inc. ADV increased its holdings in shares of AT&T Inc. (NYSE:T) by 4.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 22,415 shares of the technology company’s stock after purchasing an additional 988 shares during the period. MJP Associates Inc. ADV’s holdings in AT&T were worth $428,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of AT&T by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after purchasing an additional 4,014,873 shares in the last quarter. Norges Bank acquired a new position in shares of AT&T in the fourth quarter valued at $1,118,288,000. Charles Schwab Investment Management Inc. lifted its position in AT&T by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after purchasing an additional 798,024 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after buying an additional 1,137,792 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.5 %

Shares of AT&T stock traded up $0.09 on Friday, hitting $19.49. 22,819,613 shares of the company’s stock traded hands, compared to its average volume of 39,708,528. AT&T Inc. has a one year low of $13.92 and a one year high of $19.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $139.75 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 3.23 and a beta of 0.58. The firm’s 50-day moving average price is $18.66 and its two-hundred day moving average price is $17.66.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Oppenheimer raised their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.33.

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.