Citizens Financial Group Inc. RI Buys 34,091 Shares of AT&T Inc. $T

Citizens Financial Group Inc. RI lifted its stake in shares of AT&T Inc. (NYSE:T) by 8.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 423,248 shares of the technology company’s stock after acquiring an additional 34,091 shares during the period. Citizens Financial Group Inc. RI’s holdings in AT&T were worth $11,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Denali Advisors LLC raised its holdings in AT&T by 5.9% in the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares in the last quarter. Tredje AP fonden boosted its stake in shares of AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after buying an additional 4,793 shares during the period. Kickstand Ventures LLC. bought a new position in AT&T in the second quarter worth about $489,000. Finally, Sentry Investment Management LLC raised its stake in AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 0.7%

T stock opened at $24.00 on Monday. The business has a 50 day moving average of $24.91 and a 200 day moving average of $26.76. The firm has a market cap of $170.11 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.39. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Citigroup cut their price objective on AT&T from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Tuesday, November 11th. Barclays reduced their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. UBS Group reissued a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company dropped their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.42.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.