Griffin Asset Management Inc. Boosts Stake in AT&T Inc. (NYSE:T)

Griffin Asset Management Inc. lifted its holdings in AT&T Inc. (NYSE:TGet Rating) by 31.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,995 shares of the technology company’s stock after purchasing an additional 13,666 shares during the quarter. Griffin Asset Management Inc.’s holdings in AT&T were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of T. State Street Corp increased its position in AT&T by 3.8% during the fourth quarter. State Street Corp now owns 317,213,113 shares of the technology company’s stock valued at $7,803,443,000 after acquiring an additional 11,494,986 shares during the last quarter. Geode Capital Management LLC increased its position in AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 123,218,974 shares of the technology company’s stock valued at $3,023,357,000 after acquiring an additional 1,913,245 shares during the last quarter. Norges Bank purchased a new stake in AT&T during the fourth quarter valued at $1,740,054,000. Charles Schwab Investment Management Inc. increased its position in AT&T by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 52,265,452 shares of the technology company’s stock valued at $1,285,732,000 after acquiring an additional 1,769,739 shares during the last quarter. Finally, Capital World Investors increased its position in AT&T by 17.6% during the fourth quarter. Capital World Investors now owns 47,260,985 shares of the technology company’s stock valued at $1,162,620,000 after acquiring an additional 7,060,858 shares during the last quarter. Hedge funds and other institutional investors own 53.47% of the company’s stock.

T has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on AT&T from $26.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, April 14th. Raymond James reduced their price target on AT&T from $32.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, April 12th. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Monday, April 25th. Morgan Stanley dropped their price objective on AT&T from $28.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 13th. Finally, Wolfe Research dropped their price objective on AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.48.

T opened at $20.32 on Thursday. The stock’s fifty day moving average is $20.09 and its two-hundred day moving average is $22.75. The company has a market capitalization of $145.47 billion, a P/E ratio of 8.57, a PEG ratio of 2.09 and a beta of 0.57. AT&T Inc. has a 52 week low of $16.62 and a 52 week high of $22.15. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.97.

AT&T (NYSE:TGet Rating) last announced its earnings results on Thursday, April 21st. The technology company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). The company had revenue of $38.10 billion for the quarter, compared to the consensus estimate of $38.29 billion. AT&T had a net margin of 10.64% and a return on equity of 13.19%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. Equities analysts anticipate that AT&T Inc. will post 2.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Thursday, April 14th were given a dividend of $0.278 per share. The ex-dividend date was Wednesday, April 13th. This represents a $1.11 dividend on an annualized basis and a yield of 5.47%. AT&T’s dividend payout ratio is currently 46.84%.

AT&T Profile (Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. Its 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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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