Optimize Financial Inc Takes Position in AT&T Inc. (NYSE:T)

Optimize Financial Inc purchased a new position in AT&T Inc. (NYSE:T - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 46,515 shares of the technology company's stock, valued at approximately $1,059,000.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in AT&T by 1.7% during the third quarter. Wellington Management Group LLP now owns 965,383 shares of the technology company's stock worth $21,238,000 after buying an additional 16,024 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of AT&T in the 3rd quarter worth $502,000. Soltis Investment Advisors LLC raised its position in shares of AT&T by 23.4% during the third quarter. Soltis Investment Advisors LLC now owns 15,504 shares of the technology company's stock worth $341,000 after purchasing an additional 2,941 shares during the period. M&T Bank Corp lifted its holdings in shares of AT&T by 1.1% during the third quarter. M&T Bank Corp now owns 1,053,591 shares of the technology company's stock valued at $23,178,000 after purchasing an additional 11,895 shares during the last quarter. Finally, Passumpsic Savings Bank boosted its position in shares of AT&T by 12.2% in the 3rd quarter. Passumpsic Savings Bank now owns 17,369 shares of the technology company's stock valued at $382,000 after purchasing an additional 1,893 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 1.6 %

Shares of AT&T stock traded up $0.43 during midday trading on Monday, reaching $27.22. 27,039,792 shares of the company's stock traded hands, compared to its average volume of 36,853,394. The company has a market cap of $195.39 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $29.03. The company's 50 day simple moving average is $26.59 and its 200 day simple moving average is $23.99. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

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AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.08%. AT&T's dividend payout ratio (DPR) is presently 74.50%.

Analysts Set New Price Targets

Several research firms have issued reports on T. Tigress Financial boosted their price objective on AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Oppenheimer boosted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. UBS Group raised their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Sanford C. Bernstein lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.24.

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.