Symons Capital Management Inc. Grows Position in AT&T Inc. (NYSE:T)

Symons Capital Management Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 38.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 166,595 shares of the technology company’s stock after buying an additional 46,655 shares during the period. AT&T comprises about 2.8% of Symons Capital Management Inc.’s portfolio, making the stock its 12th biggest position. Symons Capital Management Inc.’s holdings in AT&T were worth $4,857,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of AT&T by 39.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,496,810 shares of the technology company’s stock worth $58,495,000 after buying an additional 422,207 shares during the period. Bank OZK boosted its holdings in AT&T by 5.7% in the fourth quarter. Bank OZK now owns 191,940 shares of the technology company’s stock valued at $7,501,000 after purchasing an additional 10,327 shares in the last quarter. Capital Financial Planning LLC boosted its holdings in AT&T by 22.5% in the fourth quarter. Capital Financial Planning LLC now owns 11,675 shares of the technology company’s stock valued at $456,000 after purchasing an additional 2,141 shares in the last quarter. Bell Bank boosted its holdings in AT&T by 25.6% in the fourth quarter. Bell Bank now owns 110,883 shares of the technology company’s stock valued at $4,333,000 after purchasing an additional 22,606 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in AT&T in the fourth quarter valued at approximately $24,341,000. Hedge funds and other institutional investors own 53.83% of the company’s stock.

In other news, Director Stephen J. Luczo purchased 36,000 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was acquired at an average price of $29.38 per share, for a total transaction of $1,057,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geoffrey Y. Yang purchased 6,754 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was purchased at an average price of $29.39 per share, with a total value of $198,500.06. Following the transaction, the director now owns 9,398 shares of the company’s stock, valued at $276,207.22. The disclosure for this purchase can be found here. Corporate insiders own 0.07% of the company’s stock.

T has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on AT&T in a report on Wednesday, April 22nd. They issued a “buy” rating and a $47.00 price target for the company. Guggenheim lowered their price target on AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. DZ Bank downgraded AT&T from a “hold” rating to a “sell” rating and set a $26.00 price target for the company. in a report on Friday, April 24th. ValuEngine downgraded AT&T from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. downgraded AT&T from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $35.00 in a report on Wednesday, April 1st. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.02.

Shares of NYSE T traded down $0.20 during mid-day trading on Friday, hitting $30.86. 41,908,218 shares of the company were exchanged, compared to its average volume of 34,063,780. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $29.95 and a 200-day simple moving average of $35.04. AT&T Inc. has a 1-year low of $26.08 and a 1-year high of $39.70. The firm has a market cap of $221.67 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01). The business had revenue of $42.78 billion during the quarter, compared to analysts’ expectations of $44.75 billion. AT&T had a return on equity of 13.27% and a net margin of 8.05%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. Analysts anticipate that AT&T Inc. will post 3.29 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend was Wednesday, April 8th. AT&T’s payout ratio is 58.26%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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