Bridge Creek Capital Management LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Bridge Creek Capital Management LLC boosted its stake in AT&T Inc. (NYSE:T) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 154,331 shares of the technology company’s stock after purchasing an additional 6,000 shares during the period. Bridge Creek Capital Management LLC’s holdings in AT&T were worth $2,716,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Pineridge Advisors LLC purchased a new stake in AT&T during the 4th quarter worth about $25,000. Frank Rimerman Advisors LLC purchased a new position in AT&T in the fourth quarter worth approximately $25,000. Ramirez Asset Management Inc. acquired a new position in AT&T during the 3rd quarter worth approximately $30,000. Western Pacific Wealth Management LP acquired a new stake in shares of AT&T in the 4th quarter valued at $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its position 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 purchasing an additional 606 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

AT&T stock traded up $0.29 during trading hours on Friday, reaching $18.40. 72,567,207 shares of the stock were exchanged, compared to its average volume of 28,747,498. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.45. The stock has a market cap of $131.93 billion, a P/E ratio of 9.89, a P/E/G ratio of 3.56 and a beta of 0.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The firm’s 50 day moving average is $17.32 and its 200 day moving average is $17.11.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. Analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.03%. AT&T’s payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. UBS Group reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Scotiabank upped their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday, April 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.54.

About AT&T

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.