Lakeshore Capital Group Inc. acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,776 shares of the technology company's stock, valued at approximately $906,000. AT&T comprises about 1.4% of Lakeshore Capital Group Inc.'s portfolio, making the stock its 25th largest holding.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC grew its stake in AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC increased its position 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 worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp increased its position in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Finally, Norges Bank acquired a new position in AT&T in the fourth quarter worth approximately $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company's stock.
Wall Street Analysts Forecast Growth
T has been the subject of a number of analyst reports. Evercore ISI boosted their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. TD Securities boosted their price objective on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.
Read Our Latest Stock Analysis on T
AT&T Price Performance
Shares of NYSE T traded down $0.03 during mid-day trading on Tuesday, hitting $27.39. 33,305,162 shares of the stock were exchanged, compared to its average volume of 36,796,935. The company has a market cap of $197.09 billion, a P/E ratio of 18.38, a PEG ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a twelve month low of $17.11 and a twelve month high of $29.03. The stock's fifty day simple moving average is $27.32 and its two-hundred day simple moving average is $25.16.
AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts forecast 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 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 of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.05%. AT&T's dividend payout ratio (DPR) is currently 68.10%.
About AT&T
(
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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