Tidal Investments LLC Purchases 650,367 Shares of AT&T Inc. (NYSE:T)

Tidal Investments LLC grew its position in shares of AT&T Inc. (NYSE:T - Free Report) by 101.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,291,092 shares of the technology company's stock after acquiring an additional 650,367 shares during the quarter. Tidal Investments LLC's holdings in AT&T were worth $29,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Consolidated Planning Corp boosted its position in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Keystone Financial Group boosted its position in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after purchasing an additional 143,744 shares during the last quarter. World Investment Advisors boosted its position in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after purchasing an additional 63,359 shares during the last quarter. Fortress Financial Solutions LLC purchased a new position in AT&T in the fourth quarter worth $691,000. Finally, DigitalBridge Group Inc. boosted its position in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

Shares of T opened at $27.72 on Friday. The stock has a market capitalization of $199.43 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth 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 stock's 50-day simple moving average is $27.18 and its 200 day simple moving average is $24.92. AT&T Inc. has a 52-week low of $17.11 and a 52-week high of $29.03.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share 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 analysts' expectations of $30.39 billion. During the same period in the previous year, the business earned $0.55 EPS. The business's revenue was up 2.0% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.00%. AT&T's payout ratio is currently 68.10%.

Analysts Set New Price Targets

Several research firms have weighed in on T. Sanford C. Bernstein boosted their price objective on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.71.

AT&T Company 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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