LifeWealth Investments LLC bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,849 shares of the technology company's stock, valued at approximately $406,000.
A number of other hedge funds also recently modified their holdings of T. Vanguard Group Inc. raised its stake in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC raised its stake in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC raised its stake 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 in the last quarter. Bank of New York Mellon Corp raised its stake 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 in the last quarter. Finally, Norges Bank acquired a new stake in AT&T in the 4th quarter worth about $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company's stock.
AT&T Price Performance
Shares of AT&T stock traded down $0.03 during midday trading on Tuesday, hitting $27.39. 33,305,162 shares of the company traded hands, compared to its average volume of 36,796,935. The stock has a market cap of $197.09 billion, a price-to-earnings 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. The firm's fifty day moving average price is $27.32 and its 200-day moving average price is $25.16. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03.
AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results 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). The company 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 8.95% and a return on equity of 13.97%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.
AT&T Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given 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 yield of 4.05%. AT&T's dividend payout ratio is presently 68.10%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on T. Royal Bank of Canada lifted their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Evercore ISI lifted their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Monday, April 7th. Wells Fargo & Company raised their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $28.71.
View Our Latest Research Report on T
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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