Berger Financial Group Inc grew its holdings in AT&T Inc. (NYSE:T - Free Report) by 801.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 277,290 shares of the technology company's stock after buying an additional 246,532 shares during the quarter. Berger Financial Group Inc's holdings in AT&T were worth $7,842,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of T. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AT&T by 31.8% during the 4th 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 valued at $1,216,665,000 after buying an additional 12,881,578 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Northern Trust Corp increased its holdings in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of AT&T in the 4th quarter worth $160,747,000. Hedge funds and other institutional investors own 57.10% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on T shares. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Tigress Financial lifted their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Royal Bank Of Canada lifted their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. UBS Group reissued a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $29.66.
Check Out Our Latest Report on AT&T
AT&T Stock Performance
NYSE T traded up $0.02 on Friday, hitting $28.08. 23,594,470 shares of the company traded hands, compared to its average volume of 34,716,284. The company has a market capitalization of $200.78 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 3.48 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The business's 50 day moving average price is $27.83 and its 200-day moving average price is $27.04. AT&T Inc. has a 52-week low of $18.97 and a 52-week high of $29.19.
AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's payout ratio is 63.07%.
AT&T Company Profile
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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.
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