515,000 Shares in AT&T Inc. (NYSE:T) Acquired by IVY Lane Capital Management LLC

IVY Lane Capital Management LLC acquired a new position in AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 515,000 shares of the technology company’s stock, valued at approximately $8,642,000. AT&T accounts for about 5.5% of IVY Lane Capital Management LLC’s holdings, making the stock its 8th largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of T. Carmel Capital Partners LLC boosted its holdings in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton bought a new position in AT&T in the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. bought a new stake in shares of AT&T during the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its holdings in shares of AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 2,626 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on T. Tigress Financial lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Trading Up 1.0 %

Shares of T traded up $0.17 during trading hours on Friday, reaching $16.75. 37,852,681 shares of the company traded hands, compared to its average volume of 39,190,348. The company’s fifty day moving average price is $16.96 and its two-hundred day moving average price is $16.57. The company has a market capitalization of $119.81 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. AT&T’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. AT&T’s dividend payout ratio is presently 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.