AT&T Inc. (NYSE:T) Stock Position Increased by Contour Asset Management LLC

Contour Asset Management LLC grew its holdings in AT&T Inc. (NYSE:T - Free Report) by 25.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,095,246 shares of the technology company's stock after purchasing an additional 2,268,613 shares during the quarter. AT&T accounts for about 7.3% of Contour Asset Management LLC's holdings, making the stock its 3rd biggest holding. Contour Asset Management LLC owned about 0.15% of AT&T worth $252,639,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in AT&T by 5.1% in the third quarter. Principal Financial Group Inc. now owns 8,306,930 shares of the technology company's stock valued at $182,752,000 after acquiring an additional 402,894 shares in the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in AT&T by 3.8% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 59,359 shares of the technology company's stock valued at $1,352,000 after buying an additional 2,197 shares during the last quarter. Bangor Savings Bank raised its stake in AT&T by 1.8% in the fourth quarter. Bangor Savings Bank now owns 75,123 shares of the technology company's stock valued at $1,711,000 after buying an additional 1,298 shares in the last quarter. Diversified Trust Co lifted its holdings in AT&T by 0.7% during the 4th quarter. Diversified Trust Co now owns 170,419 shares of the technology company's stock worth $3,880,000 after buying an additional 1,192 shares during the last quarter. Finally, Spartan Planning & Wealth Management purchased a new position in shares of AT&T in the 4th quarter valued at about $284,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on T shares. Royal Bank of Canada boosted their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Argus upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. BNP Paribas raised shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, DZ Bank upgraded shares of 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 Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.71.

AT&T Trading Up 2.6 %

NYSE T opened at $28.22 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $203.04 billion, a P/E ratio of 18.94, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52-week low of $17.00 and a 52-week high of $29.03. The firm has a 50-day moving average price of $27.11 and a 200 day moving average price of $24.63.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.93%. AT&T's dividend payout ratio (DPR) is 68.10%.

AT&T Company 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.

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