Ossiam raised its stake in AT&T Inc. (NYSE:T – Free Report) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 260,042 shares of the technology company’s stock after acquiring an additional 37,697 shares during the period. Ossiam’s holdings in AT&T were worth $5,006,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of T. Steward Financial Group LLC grew its stake in shares of AT&T by 159.7% in the first quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock worth $30,000 after acquiring an additional 960 shares during the last quarter. Carmel Capital Partners LLC purchased a new stake in shares of AT&T during the first quarter valued at $31,000. FWL Investment Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at $31,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of AT&T during the fourth quarter valued at $32,000. Finally, Lakewood Asset Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at $32,000. 53.65% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on T. StockNews.com began coverage on AT&T in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Barclays lowered their target price on AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Moffett Nathanson raised AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price on the stock in a report on Tuesday, June 6th. Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, August 29th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price on shares of AT&T in a report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.00.
AT&T Stock Down 1.4 %
Shares of T opened at $14.40 on Friday. The business’s 50 day moving average is $14.58 and its 200 day moving average is $16.50. The company has a market capitalization of $102.95 billion, a PE ratio of -11.80, a price-to-earnings-growth ratio of 1.79 and a beta of 0.64. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $20.50. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10.
AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $29.92 billion during the quarter, compared to analysts’ expectations of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. Research analysts expect that AT&T Inc. will post 2.43 earnings per share for the current fiscal year.
AT&T Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 7.71%. The ex-dividend date was Friday, July 7th. AT&T’s dividend payout ratio is presently -90.98%.
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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