Personal CFO Solutions LLC raised its position in AT&T Inc. (NYSE:T) by 21.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,430 shares of the technology company’s stock after acquiring an additional 12,592 shares during the quarter. Personal CFO Solutions LLC’s holdings in AT&T were worth $2,054,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in T. BNC Wealth Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $27,000. Flagship Private Wealth LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $27,000. Clear Perspectives Financial Planning LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $29,000. Iron Horse Wealth Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $31,000. Finally, JustInvest LLC lifted its stake in shares of AT&T by 13.8% during the 4th quarter. JustInvest LLC now owns 28,726 shares of the technology company’s stock worth $31,000 after buying an additional 3,481 shares during the last quarter. Hedge funds and other institutional investors own 51.17% of the company’s stock.
T has been the subject of a number of research reports. Credit Suisse Group cut their target price on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 19th. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Monday, January 4th. Morgan Stanley lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $36.00 to $34.00 in a research report on Thursday, December 17th. Royal Bank of Canada lowered their price target on shares of AT&T from $32.00 to $30.00 in a research report on Monday, October 26th. Finally, CIBC reaffirmed a “buy” rating on shares of AT&T in a research report on Wednesday, February 10th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $32.12.
AT&T (NYSE:T) last posted its earnings results on Tuesday, January 26th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. AT&T had a net margin of 6.42% and a return on equity of 12.27%. The business had revenue of $45.70 billion for the quarter, compared to the consensus estimate of $44.58 billion. During the same period last year, the company earned $0.89 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 3.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 1st. Stockholders of record on Monday, January 11th were given a $0.52 dividend. The ex-dividend date was Friday, January 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.11%. AT&T’s dividend payout ratio (DPR) is currently 58.26%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
Further Reading: Stock Symbols and CUSIP Explained
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