Oribel Capital Management LP Makes New Investment in AT&T Inc. (NYSE:T)

Oribel Capital Management LP purchased a new stake in AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,841,800 shares of the technology company’s stock, valued at approximately $41,938,000. AT&T makes up 1.4% of Oribel Capital Management LP’s holdings, making the stock its 7th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Norges Bank acquired a new position in AT&T during the 4th quarter valued at about $1,858,418,000. GQG Partners LLC raised its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Assetmark Inc. boosted its stake in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares in the last quarter. Vanguard Group Inc. grew its position in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on T shares. Sanford C. Bernstein boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their price objective on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. Finally, Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.21.

AT&T Trading Down 6.8 %

Shares of T stock opened at $26.65 on Friday. The stock has a 50 day simple moving average of $26.26 and a 200-day simple moving average of $23.75. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $29.03. The company has a market cap of $191.27 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share 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 expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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 paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.17%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

About AT&T

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.