Synovus Financial Corp Buys 17,611 Shares of AT&T Inc. (NYSE:T)

Synovus Financial Corp increased its position in AT&T Inc. (NYSE:T - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 855,199 shares of the technology company's stock after acquiring an additional 17,611 shares during the quarter. Synovus Financial Corp's holdings in AT&T were worth $19,474,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in T. International Assets Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at $14,700,000. Franklin Resources Inc. grew its holdings in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock valued at $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp increased its position in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock valued at $7,288,000 after buying an additional 21,927 shares during the period. World Investment Advisors lifted its holdings in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after buying an additional 63,359 shares in the last quarter. Finally, Fortress Financial Solutions LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $691,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 1.1 %

T traded up $0.29 on Tuesday, hitting $27.49. 25,705,713 shares of the company were exchanged, compared to its average volume of 36,795,518. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a fifty day simple moving average of $26.71 and a two-hundred day simple moving average of $24.05. The stock has a market capitalization of $197.35 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $29.03.

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AT&T (NYSE:T - Get Free Report) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.04%. AT&T's payout ratio is presently 74.50%.

Wall Street Analyst Weigh In

T has been the topic of a number of analyst reports. Scotiabank upped their target price on shares of AT&T from $28.50 to $29.00 and gave the stock a "sector outperform" rating in a report on Tuesday, April 8th. Citigroup reiterated a "buy" rating on shares of AT&T in a research report on Monday, April 7th. Tigress Financial boosted their target price on AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Morgan Stanley raised AT&T from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. Finally, DZ Bank upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.24.

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.