International Assets Investment Management LLC Makes New $14.70 Million Investment in AT&T Inc. (NYSE:T)

International Assets Investment Management LLC purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 645,592 shares of the technology company's stock, valued at approximately $14,700,000. AT&T comprises 0.7% of International Assets Investment Management LLC's portfolio, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC boosted its position in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company's stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in AT&T during the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock worth $29,000 after buying an additional 841 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at about $30,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at approximately $35,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Royal Bank of Canada raised AT&T from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $22.00 to $26.00 in a research note on Monday. JPMorgan Chase & Co. increased their price target on AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein assumed coverage on AT&T in a research note on Tuesday, December 10th. They set an "outperform" rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.76.

AT&T Price Performance

Shares of NYSE:T remained flat at $22.20 during midday trading on Wednesday. 35,506,315 shares of the company traded hands, compared to its average volume of 32,210,170. The firm has a market capitalization of $159.29 billion, a P/E ratio of 18.05, a P/E/G ratio of 3.60 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The business has a 50 day moving average of $22.83 and a 200-day moving average of $21.17. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the business earned $0.64 EPS. AT&T's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, January 10th. AT&T's payout ratio is presently 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.