Nearwater Capital Markets Ltd Buys New Stake in AT&T Inc. (NYSE:T)

Nearwater Capital Markets Ltd acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 700,000 shares of the technology company's stock, valued at approximately $15,939,000.

Several other hedge funds have also recently bought and sold shares of T. Consolidated Planning Corp raised its stake in AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock valued at $7,288,000 after buying an additional 21,927 shares in the last quarter. Keystone Financial Group grew 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 buying an additional 143,744 shares during the last quarter. World Investment Advisors lifted its stake in AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after buying an additional 63,359 shares in the last quarter. Fortress Financial Solutions LLC purchased a new position in AT&T during the fourth quarter valued at approximately $691,000. Finally, DigitalBridge Group Inc. increased its stake in shares of 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 acquiring an additional 365,776 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. Royal Bank of Canada raised their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Sanford C. Bernstein lifted 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. TD Securities raised their price target on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Performance

T opened at $26.43 on Wednesday. AT&T Inc. has a 12-month low of $17.11 and a 12-month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $190.18 billion, a PE ratio of 17.74, a P/E/G ratio of 3.00 and a beta of 0.42. The firm has a 50 day moving average of $27.16 and a two-hundred day moving average of $24.81.

AT&T (NYSE:T - Get Free Report) last posted 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 return on equity of 13.97% and a net margin of 8.95%. 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 prior year, the business posted $0.55 earnings per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.20%. AT&T's dividend payout ratio (DPR) is 68.10%.

About AT&T

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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