Tidal Investments LLC Purchases 650,367 Shares of AT&T Inc. (NYSE:T)

Tidal Investments LLC grew its position in shares of AT&T Inc. (NYSE:T) by 101.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,291,092 shares of the technology company’s stock after purchasing an additional 650,367 shares during the quarter. Tidal Investments LLC’s holdings in AT&T were worth $29,398,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after buying an additional 2,640,644 shares during the last quarter. GQG Partners LLC grew its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after buying an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

NYSE:T opened at $27.72 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $199.43 billion, a P/E ratio of 18.60, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03. The business’s 50-day moving average is $27.18 and its 200 day moving average is $24.92.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities 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 was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. AT&T’s dividend payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price target on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Tigress Financial upped their price objective on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Oppenheimer boosted their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Finally, DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.