TCW Group Inc. lifted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 518.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 989,888 shares of the technology company's stock after buying an additional 829,950 shares during the period. TCW Group Inc.'s holdings in AT&T were worth $21,778,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Soltis Investment Advisors LLC increased its holdings in AT&T by 23.4% in the 3rd quarter. Soltis Investment Advisors LLC now owns 15,504 shares of the technology company's stock valued at $341,000 after buying an additional 2,941 shares during the period. TD Private Client Wealth LLC increased its holdings in AT&T by 0.4% in the third quarter. TD Private Client Wealth LLC now owns 197,315 shares of the technology company's stock worth $4,341,000 after purchasing an additional 854 shares in the last quarter. Fortem Financial Group LLC increased its holdings in shares of AT&T by 69.1% during the third quarter. Fortem Financial Group LLC now owns 42,471 shares of the technology company's stock valued at $934,000 after acquiring an additional 17,353 shares in the last quarter. Asset Allocation Strategies LLC grew its position in AT&T by 22.6% in the 3rd quarter. Asset Allocation Strategies LLC now owns 13,163 shares of the technology company's stock worth $290,000 after purchasing an additional 2,429 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of AT&T by 1.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 374,423 shares of the technology company's stock valued at $8,240,000 after purchasing an additional 3,909 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently commented on T shares. Tigress Financial raised their price objective 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. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Oppenheimer initiated coverage on AT&T in a report on Tuesday. They set an "outperform" rating and a $28.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of 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, Hsbc Global Res upgraded AT&T to a "strong-buy" rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.00.
Get Our Latest Analysis on AT&T
AT&T Trading Down 0.1 %
NYSE:T traded down $0.03 during trading hours on Wednesday, reaching $23.48. 38,513,626 shares of the stock were exchanged, compared to its average volume of 35,583,934. The company has a market capitalization of $168.48 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 3.63 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average of $22.41 and a two-hundred day moving average of $20.47. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03.
AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 the consensus estimate 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 was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. On average, equities analysts predict that AT&T Inc. will post 2.19 EPS for the current year.
AT&T Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's dividend payout ratio (DPR) is currently 90.24%.
AT&T Company Profile
(
Free Report)
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.
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