Uniting Wealth Partners LLC Makes New Investment in AT&T Inc. (NYSE:T)

Uniting Wealth Partners LLC purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 21,016 shares of the technology company's stock, valued at approximately $479,000.

Several other hedge funds also recently modified their holdings of T. Norges Bank bought a new position in AT&T during the fourth quarter worth about $1,858,418,000. GQG Partners LLC lifted its position in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. Assetmark Inc. boosted its stake in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after acquiring an additional 9,719,036 shares during the period. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after acquiring an additional 6,220,442 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on T. Morgan Stanley upgraded shares of 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 note on Monday, December 16th. Argus upgraded 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 Thursday, January 16th. Sanford C. Bernstein upped their target price on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Finally, Citigroup upped their price objective on AT&T from $28.00 to $32.00 and gave the company a "buy" rating in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $27.21.

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AT&T Stock Down 6.8 %

Shares of T traded down $1.95 on Friday, reaching $26.65. The company's stock had a trading volume of 61,325,675 shares, compared to its average volume of 36,452,570. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $29.03. The stock has a market capitalization of $191.27 billion, a PE ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average of $26.26 and a 200-day moving average of $23.75.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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 predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, April 10th. AT&T's payout ratio is 74.50%.

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.