Geode Capital Management LLC Grows Stock Holdings in AT&T Inc. (NYSE:T)

Geode Capital Management LLC lifted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,120,657 shares of the technology company's stock after purchasing an additional 3,630,972 shares during the period. Geode Capital Management LLC owned 2.25% of AT&T worth $3,532,684,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC grew its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company's stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter valued at $25,000. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock valued at $29,000 after buying an additional 841 shares in the last quarter. Finally, American Capital Advisory LLC boosted its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on T. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Barclays upped their price objective on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.00.

AT&T Trading Up 0.7 %

T traded up $0.16 during midday trading on Tuesday, reaching $23.53. 32,836,564 shares of the company's stock traded hands, compared to its average volume of 35,571,180. The stock has a market capitalization of $168.80 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 3.63 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The firm has a fifty day moving average of $22.39 and a two-hundred day moving average of $20.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Thursday, October 10th. AT&T's dividend payout ratio is presently 90.24%.

AT&T 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.