Eads & Heald Wealth Management raised its stake in AT&T Inc. (NYSE:T – Get Rating) by 67.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,432 shares of the technology company's stock after purchasing an additional 9,424 shares during the quarter. Eads & Heald Wealth Management's holdings in AT&T were worth $431,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in AT&T by 0.7% in the third quarter. Vanguard Group Inc. now owns 600,524,205 shares of the technology company's stock valued at $9,212,041,000 after buying an additional 3,894,916 shares during the period. State Street Corp raised its stake in shares of AT&T by 1.6% in the 3rd quarter. State Street Corp now owns 280,895,582 shares of the technology company's stock valued at $4,308,938,000 after acquiring an additional 4,430,454 shares during the period. Legal & General Group Plc raised its stake in shares of AT&T by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 52,838,773 shares of the technology company's stock valued at $1,107,506,000 after acquiring an additional 2,402,764 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of AT&T by 10.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 37,997,508 shares of the technology company's stock valued at $582,882,000 after acquiring an additional 3,610,945 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in AT&T by 0.5% during the 3rd quarter. Royal Bank of Canada now owns 35,747,851 shares of the technology company's stock worth $548,372,000 after purchasing an additional 178,516 shares during the period. 51.86% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
A number of research analysts have commented on T shares. TheStreet cut AT&T from a "b" rating to a "c" rating in a research note on Wednesday, January 25th. Credit Suisse Group increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, January 26th. Cowen boosted their target price on shares of AT&T from $24.00 to $25.00 in a research report on Thursday, January 26th. StockNews.com assumed coverage on shares of AT&T in a report on Thursday, March 16th. They set a "hold" rating for the company. Finally, Raymond James boosted their price objective on shares of AT&T from $24.00 to $25.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given 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 price target of $22.00.
AT&T Trading Down 1.2 %
NYSE T opened at $19.65 on Monday. The firm has a market capitalization of $140.57 billion, a PE ratio of -16.51, a price-to-earnings-growth ratio of 2.44 and a beta of 0.66. AT&T Inc. has a one year low of $14.46 and a one year high of $21.53. The company has a 50-day simple moving average of $19.08 and a 200-day simple moving average of $18.42. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.53 and a current ratio of 0.59.
AT&T (NYSE:T – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. The business had revenue of $31.30 billion for the quarter, compared to analysts' expectations of $31.50 billion. AT&T had a negative net margin of 6.60% and a positive return on equity of 14.18%. The company's revenue for the quarter was down 23.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.4 earnings per share for the current year.
AT&T Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Thursday, April 6th. AT&T's payout ratio is currently -93.28%.
AT&T Company Profile
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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.
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