Norden Group LLC Buys 13,380 Shares of AT&T Inc. (NYSE:T)

Key Points

• Norden Group LLC has increased its stake in AT&T Inc. by 11.8%, now owning 126,991 shares valued at approximately $3.59 million.
• Several institutions, including Keystone Financial Group and DigitalBridge Group Inc., have significantly raised their positions in AT&T during recent quarters, indicating growing institutional interest.
• AT&T recently reported a quarterly earnings per share of $0.54, exceeding analysts' expectations, alongside declaring a quarterly dividend of $0.2775 per share with a yield of 3.96%.

Norden Group LLC increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,991 shares of the technology company's stock after acquiring an additional 13,380 shares during the period. Norden Group LLC's holdings in AT&T were worth $3,591,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Keystone Financial Group lifted its position in AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after buying an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC acquired a new stake in shares of AT&T in the first quarter valued at about $201,000. World Investment Advisors raised its holdings in AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after acquiring an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. boosted its position in AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Finally, Huber Capital Management LLC grew its stake in AT&T by 2.7% in the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after purchasing an additional 15,000 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research note on Thursday. Evercore ISI upped their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday. 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $29.66.

AT&T Price Performance

Shares of NYSE T opened at $28.02 on Monday. The business has a fifty day moving average price of $27.81 and a two-hundred day moving average price of $26.68. The stock has a market capitalization of $201.58 billion, a PE ratio of 15.92, a P/E/G ratio of 3.49 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $29.19.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. AT&T's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 63.07%.

AT&T Profile

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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