Polymer Capital Management HK LTD Purchases New Shares in AT&T Inc. (NYSE:T)

Polymer Capital Management HK LTD acquired a new position in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,000 shares of the technology company’s stock, valued at approximately $455,000.

Several other institutional investors have also recently made changes to their positions in T. 1620 Investment Advisors Inc. boosted its holdings in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after purchasing an additional 421 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of AT&T by 0.7% in the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock valued at $1,352,000 after acquiring an additional 433 shares in the last quarter. Wealthstream Advisors Inc. increased its position in shares of AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after acquiring an additional 444 shares during the last quarter. Finally, Northeast Investment Management lifted its holdings in AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 451 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on T. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Sanford C. Bernstein raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada increased their price target on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Tigress Financial lifted their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $27.21.

AT&T Stock Down 6.8 %

T stock opened at $26.65 on Monday. The business’s 50-day moving average price is $26.26 and its 200-day moving average price is $23.76. The stock has a market cap of $191.27 billion, a P/E ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

AT&T 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.