Acorns Advisers LLC Takes $217,000 Position in AT&T Inc. (NYSE:T)

Acorns Advisers LLC acquired a new position in AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,532 shares of the technology company's stock, valued at approximately $217,000.

A number of other hedge funds have also made changes to their positions in T. Norges Bank purchased a new stake in AT&T during the 4th quarter valued at about $1,858,418,000. GQG Partners LLC grew its holdings in 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 buying an additional 26,280,866 shares in the last quarter. Assetmark Inc. increased its stake in shares of 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 acquiring an additional 9,719,036 shares during the last quarter. Invesco Ltd. raised its holdings in shares of AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after acquiring an additional 7,347,354 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after acquiring an additional 6,220,442 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on T. Scotiabank raised their price objective on shares of AT&T from $28.50 to $29.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, April 8th. Royal Bank of Canada raised their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a report on Wednesday, January 29th. StockNews.com cut AT&T from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Argus raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $27.24.

AT&T Stock Up 0.4 %

Shares of T stock traded up $0.10 during trading hours on Friday, reaching $27.12. 24,758,386 shares of the stock were exchanged, compared to its average volume of 36,664,188. AT&T Inc. has a 12-month low of $16.17 and a 12-month high of $29.03. The business's fifty day moving average is $26.84 and its two-hundred day moving average is $24.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market capitalization of $194.67 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.09%. AT&T's dividend 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.