Polymer Capital Management HK LTD Acquires Shares of 20,000 AT&T Inc. (NYSE:T)

Polymer Capital Management HK LTD bought a new position in AT&T Inc. (NYSE:T) in the fourth quarter, HoldingsChannel reports. The firm bought 20,000 shares of the technology company’s stock, valued at approximately $455,000.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter worth about $14,700,000. Franklin Resources Inc. grew its position in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp increased its stake in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the period. World Investment Advisors lifted its holdings in AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after buying an additional 63,359 shares in the last quarter. Finally, Fortress Financial Solutions LLC purchased a new position in shares of AT&T during the fourth quarter worth approximately $691,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Scotiabank increased their price objective on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Sanford C. Bernstein lifted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.21.

AT&T Trading Down 6.8 %

Shares of AT&T stock opened at $26.65 on Monday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $191.27 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm has a fifty day moving average price of $26.26 and a 200 day moving average price of $23.76.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 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%. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.17%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

AT&T Company 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.