Westshore Wealth LLC acquired a new position in AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,018 shares of the technology company’s stock, valued at approximately $352,000.
A number of other hedge funds also recently made changes to their positions in T. Norges Bank bought a new stake in AT&T in the fourth quarter worth about $2,928,300,000. Nuveen Asset Management LLC raised its position in shares of AT&T by 18.4% in the fourth quarter. Nuveen Asset Management LLC now owns 53,216,205 shares of the technology company’s stock valued at $2,079,689,000 after purchasing an additional 8,261,619 shares during the period. Geode Capital Management LLC raised its position in shares of AT&T by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 109,540,861 shares of the technology company’s stock valued at $4,272,292,000 after purchasing an additional 4,091,166 shares during the period. Macquarie Group Ltd. raised its position in shares of AT&T by 10.0% in the fourth quarter. Macquarie Group Ltd. now owns 25,036,988 shares of the technology company’s stock valued at $978,445,000 after purchasing an additional 2,276,705 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of AT&T by 29.2% in the fourth quarter. Toronto Dominion Bank now owns 7,412,955 shares of the technology company’s stock valued at $289,660,000 after purchasing an additional 1,674,076 shares during the period. 56.10% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. Argus reissued a “buy” rating on shares of AT&T in a research report on Friday. Tigress Financial reissued a “buy” rating on shares of AT&T in a research report on Friday, January 3rd. Deutsche Bank assumed coverage on shares of AT&T in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $44.00 price target on the stock. Cowen lowered shares of AT&T from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $43.00 to $37.00 in a research report on Monday, March 23rd. Finally, Raymond James lowered shares of AT&T from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. AT&T presently has an average rating of “Hold” and an average price target of $38.93.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. AT&T had a net margin of 7.67% and a return on equity of 13.37%. The business had revenue of $46.82 billion during the quarter, compared to analysts’ expectations of $47.06 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 3.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Thursday, April 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 7.09%. AT&T’s dividend payout ratio is presently 58.26%.
In related news, Director Stephen J. Luczo purchased 100,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $37.81 per share, with a total value of $3,781,000.00. 0.07% of the stock is owned by insiders.
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.
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