Pitcairn Co. Has $2.88 Million Stock Position in AT&T Inc. (NYSE:T)

Pitcairn Co. lifted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,442 shares of the technology company's stock after acquiring an additional 33,280 shares during the quarter. Pitcairn Co.'s holdings in AT&T were worth $2,879,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in T. International Assets Investment Management LLC acquired a new position in AT&T during the 4th quarter worth $14,700,000. Franklin Resources Inc. lifted its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp lifted its position in shares of AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Fortress Financial Solutions LLC bought a new stake in AT&T during the 4th quarter valued at approximately $691,000. Finally, West Family Investments Inc. increased its position in AT&T by 70.4% in the 4th quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock worth $864,000 after buying an additional 15,680 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Scotiabank boosted their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Royal Bank of Canada upped their price objective on shares of AT&T from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Citigroup boosted their price objective on AT&T from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday. Finally, Morgan Stanley raised AT&T from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.21.

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AT&T Price Performance

Shares of T stock traded up $0.45 during trading hours on Thursday, hitting $28.59. 48,884,863 shares of the company's stock were exchanged, compared to its average volume of 36,341,050. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $29.01. The stock has a market cap of $205.20 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock's 50-day moving average is $26.18 and its 200-day moving average is $23.70.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping 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%. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.88%. The ex-dividend date is Thursday, April 10th. AT&T's dividend payout ratio (DPR) is presently 74.50%.

About AT&T

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.