AT&T Inc. $T Position Raised by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its AT&T stake by 491.6% in the third quarter, buying 166,365 shares to hold 200,206 shares valued at about $4.9 million. Institutional investors collectively own 57.1% of the stock.
• AT&T reported quarterly EPS of $0.65, topping the $0.60 consensus, while revenue rose 5.2% year over year to $32.32 billion. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $27.56.
• The company’s quarterly dividend is $0.2775 per share, equivalent to $1.11 annually and a reported yield of 5.1%.

Fulcrum Asset Management LLP raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 491.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,206 shares of the technology company's stock after purchasing an additional 166,365 shares during the period. Fulcrum Asset Management LLP's holdings in AT&T were worth $4,901,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of AT&T by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,057,594 shares of the technology company's stock worth $25,700,000 after purchasing an additional 10,749 shares during the last quarter. Griffith & Werner Inc. grew its position in AT&T by 13.2% during the 3rd quarter. Griffith & Werner Inc. now owns 301,669 shares of the technology company's stock valued at $7,361,000 after purchasing an additional 35,282 shares during the last quarter. StoneRidge PMG Advisors LLC bought a new stake in AT&T during the 3rd quarter valued at about $526,000. Burton Enright Welch increased its stake in AT&T by 46.7% during the 3rd quarter. Burton Enright Welch now owns 15,920 shares of the technology company's stock valued at $388,000 after purchasing an additional 5,071 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC increased its stake in AT&T by 15.5% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 39,744 shares of the technology company's stock valued at $970,000 after purchasing an additional 5,323 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup decreased their target price on shares of AT&T from $31.50 to $28.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Wells Fargo & Company increased their price target on shares of AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Morgan Stanley reduced their price target on shares of AT&T from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. Argus reissued a "buy" rating and set a $30.00 price target on shares of AT&T in a research report on Thursday, October 22nd. Finally, Moffett Nathanson decreased their price objective on shares of AT&T from $24.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, September 22nd. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.56.

AT&T Stock Performance

Shares of NYSE T opened at $21.76 on Tuesday. The firm's 50-day moving average price is $23.88 and its 200-day moving average price is $24.91. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The company has a market cap of $146.60 billion, a PE ratio of 11.76, a PEG ratio of 1.08 and a beta of 0.30. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.43.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The firm had revenue of $32.32 billion during the quarter, compared to analysts' expectations of $31.69 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The firm's quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate that AT&T Inc. will post 2.39 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 9th. This represents a $1.11 annualized dividend and a yield of 5.1%. AT&T's dividend payout ratio (DPR) is currently 60.00%.

AT&T Profile

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.

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