First Horizon Corp Acquires Shares of 276,576 AT&T Inc. $T

First Horizon Corp acquired a new stake in AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 276,576 shares of the technology company’s stock, valued at approximately $7,811,000.

Several other institutional investors have also recently made changes to their positions in T. Front Row Advisors LLC acquired a new stake in AT&T during the 2nd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T in the second quarter worth about $26,000. Solstein Capital LLC grew its holdings in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares during the period. Kennebec Savings Bank grew its holdings in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Finally, Curio Wealth LLC raised its position in AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,044 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $24.00 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market capitalization of $170.11 billion, a PE ratio of 7.79, a P/E/G ratio of 1.31 and a beta of 0.39. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company has a fifty day moving average of $24.91 and a two-hundred day moving average of $26.76.

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. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on T. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Tuesday, November 11th. Loop Capital set a $29.00 price target on shares of AT&T in a report on Friday, December 19th. Arete lowered shares of AT&T from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research report on Tuesday, January 6th. Williams Trading set a $33.00 price objective on shares of AT&T in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group decreased their price objective on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.42.

AT&T Company Profile

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.