Golden State Equity Partners Grows Stake in AT&T Inc. (NYSE:T)

Golden State Equity Partners lifted its holdings in AT&T Inc. (NYSE:T - Free Report) by 184.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,344 shares of the technology company's stock after acquiring an additional 48,240 shares during the period. Golden State Equity Partners' holdings in AT&T were worth $1,693,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AT&T in the second quarter worth about $44,000. Centaurus Financial Inc. increased its stake in AT&T by 4.7% in the 2nd quarter. Centaurus Financial Inc. now owns 44,098 shares of the technology company's stock worth $843,000 after acquiring an additional 1,982 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of AT&T by 19.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 38,959 shares of the technology company's stock worth $857,000 after acquiring an additional 6,314 shares in the last quarter. AMF Tjanstepension AB boosted its position in shares of AT&T by 305.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company's stock valued at $33,918,000 after acquiring an additional 1,161,152 shares during the last quarter. Finally, Czech National Bank grew its holdings in shares of AT&T by 6.9% in the third quarter. Czech National Bank now owns 1,460,655 shares of the technology company's stock valued at $32,134,000 after purchasing an additional 94,312 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on T. Scotiabank lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Argus raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup raised their price target on AT&T from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $26.11.

AT&T Stock Down 1.2 %

Shares of T traded down $0.28 during midday trading on Friday, reaching $23.74. 40,341,358 shares of the stock were exchanged, compared to its average volume of 35,177,680. The company has a current ratio of 0.66, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The company's 50 day moving average is $22.92 and its two-hundred day moving average is $21.64. The company has a market capitalization of $170.34 billion, a P/E ratio of 15.93, a PEG ratio of 2.81 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.12 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.68%. AT&T's dividend payout ratio (DPR) is presently 74.50%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.