Independent Solutions Wealth Management LLC acquired a new position in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,731 shares of the technology company's stock, valued at approximately $275,000.
Several other institutional investors also recently modified their holdings of T. Norges Bank bought a new position in shares of AT&T in the fourth quarter worth approximately $1,858,418,000. GQG Partners LLC boosted its stake in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after buying an additional 12,881,578 shares in the last quarter. Northern Trust Corp boosted its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after buying an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after buying an additional 9,719,036 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.
AT&T Stock Performance
Shares of T stock opened at $27.93 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $200.97 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 4.01 and a beta of 0.41. The stock has a fifty day moving average of $27.59 and a 200 day moving average of $25.87. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.03.
AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.
AT&T Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.97%. AT&T's dividend payout ratio is currently 68.10%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on T. Cowen reaffirmed a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Tigress Financial upped their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Royal Bank Of Canada upped 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. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.76.
Read Our Latest Report on AT&T
AT&T Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider AT&T, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AT&T wasn't on the list.
While AT&T currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
