Signature Wealth Management Group boosted its holdings in shares of AT&T Inc. (NYSE:T) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,623 shares of the technology company’s stock after buying an additional 1,703 shares during the quarter. AT&T makes up approximately 2.0% of Signature Wealth Management Group’s investment portfolio, making the stock its 22nd largest position. Signature Wealth Management Group’s holdings in AT&T were worth $3,190,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in T. JJJ Advisors Inc. acquired a new position in shares of AT&T in the third quarter valued at approximately $27,000. Bourgeon Capital Management LLC acquired a new position in shares of AT&T in the third quarter valued at approximately $45,000. Fulcrum Equity Management acquired a new position in shares of AT&T in the third quarter valued at approximately $51,000. Corbenic Partners LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $54,000. Finally, Quantum Capital Management acquired a new position in shares of AT&T in the third quarter valued at approximately $57,000. 53.60% of the stock is currently owned by hedge funds and other institutional investors.
T has been the topic of several research reports. Sanford C. Bernstein initiated coverage on AT&T in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $36.00 target price on the stock. Moffett Nathanson downgraded AT&T from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research report on Tuesday, November 19th. SunTrust Banks upped their target price on AT&T to $36.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Raymond James reaffirmed a “buy” rating and issued a $45.00 target price (up previously from $40.00) on shares of AT&T in a research report on Tuesday, October 29th. Finally, Standpoint Research downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $39.22.
AT&T (NYSE:T) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The business had revenue of $44.59 billion for the quarter, compared to the consensus estimate of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 3.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.49%. This is an increase from AT&T’s previous quarterly dividend of $0.51. AT&T’s dividend payout ratio is currently 59.09%.
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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