NuWave Investment Management LLC Buys Shares of 1,409 AT&T Inc. (T)

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NuWave Investment Management LLC bought a new position in AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,409 shares of the technology company’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Levin Capital Strategies L.P. boosted its holdings in shares of AT&T by 2.7% in the third quarter. Levin Capital Strategies L.P. now owns 7,691,075 shares of the technology company’s stock valued at $258,266,000 after acquiring an additional 205,047 shares in the last quarter. Private Wealth Partners LLC boosted its holdings in shares of AT&T by 35.7% in the third quarter. Private Wealth Partners LLC now owns 163,148 shares of the technology company’s stock valued at $5,479,000 after acquiring an additional 42,905 shares in the last quarter. Chemical Bank boosted its holdings in shares of AT&T by 0.8% in the third quarter. Chemical Bank now owns 227,448 shares of the technology company’s stock valued at $7,638,000 after acquiring an additional 1,824 shares in the last quarter. Burleson & Company LLC boosted its holdings in shares of AT&T by 77.7% in the third quarter. Burleson & Company LLC now owns 123,576 shares of the technology company’s stock valued at $3,751,000 after acquiring an additional 54,034 shares in the last quarter. Finally, Pratt Collard Advisory Partners LLC boosted its holdings in shares of AT&T by 5.4% in the fourth quarter. Pratt Collard Advisory Partners LLC now owns 49,653 shares of the technology company’s stock valued at $1,417,000 after acquiring an additional 2,534 shares in the last quarter. Hedge funds and other institutional investors own 64.59% of the company’s stock.

Shares of NYSE:T opened at $32.25 on Wednesday. The company has a market cap of $197.98 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $35.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.86.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.86 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.86. The firm had revenue of $47.99 billion during the quarter, compared to analysts’ expectations of $48.50 billion. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 3.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 57.95%.

T has been the subject of several recent analyst reports. Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Friday, March 15th. They noted that the move was a valuation call. Cowen reiterated a “buy” rating and issued a $35.00 price objective on shares of AT&T in a report on Thursday, January 31st. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Desjardins reiterated an “average” rating and issued a $56.50 price objective on shares of AT&T in a report on Friday, April 5th. Finally, Barclays set a $32.00 target price on shares of AT&T and gave the stock a “hold” rating in a report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $36.26.

In related news, CEO John T. Stankey sold 3,748 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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