AT&T Inc. (NYSE:T) Stock Position Lifted by Truist Financial Corp

Truist Financial Corp boosted its stake in AT&T Inc. (NYSE:T - Free Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,121,320 shares of the technology company's stock after buying an additional 46,892 shares during the quarter. Truist Financial Corp owned approximately 0.07% of AT&T worth $116,612,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock worth $29,000 after acquiring an additional 841 shares in the last quarter. YANKCOM Partnership acquired a new position in shares of AT&T in the fourth quarter worth $30,000. Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T during the 4th quarter worth $34,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of AT&T during the 3rd quarter worth $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE:T traded down $0.06 during trading on Thursday, reaching $26.18. The company had a trading volume of 32,739,723 shares, compared to its average volume of 37,834,594. The firm's fifty day moving average is $23.38 and its 200 day moving average is $22.20. The firm has a market capitalization of $187.95 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.99 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $26.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T - Get Free Report) last issued 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 net margin of 8.95% and a return on equity of 13.97%. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.24%. AT&T's payout ratio is currently 74.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. New Street Research raised shares of AT&T from a "neutral" rating to a "buy" rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.33.

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.