Park Place Capital Corp Has $658,000 Stock Holdings in AT&T Inc. (NYSE:T)

Park Place Capital Corp lowered its position in shares of AT&T Inc. (NYSE:T) by 9.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,376 shares of the technology company’s stock after selling 3,798 shares during the quarter. Park Place Capital Corp’s holdings in AT&T were worth $658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of AT&T by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock worth $10,443,980,000 after buying an additional 2,155,232 shares in the last quarter. Norges Bank acquired a new position in AT&T in the fourth quarter valued at about $1,118,288,000. Ameriprise Financial Inc. raised its stake in AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in AT&T by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after purchasing an additional 798,024 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in AT&T by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after purchasing an additional 1,137,792 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $21.00 target price on shares of AT&T in a research report on Tuesday, June 25th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday. They issued a “buy” rating and a $22.00 target price on the stock. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.73.

AT&T Stock Down 0.7 %

Shares of NYSE:T traded down $0.13 during trading on Monday, reaching $18.98. 33,256,028 shares of the stock were exchanged, compared to its average volume of 36,884,797. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The stock has a fifty day moving average of $17.57 and a two-hundred day moving average of $17.18. The firm has a market cap of $136.09 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.85%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

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.