Grant GrossMendelsohn LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,712 shares of the technology company’s stock after acquiring an additional 4,616 shares during the period. Grant GrossMendelsohn LLC’s holdings in AT&T were worth $681,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in T. Curi Capital acquired a new position in AT&T during the 4th quarter worth $25,000. Flagship Private Wealth LLC bought a new stake in shares of AT&T during the fourth quarter worth $27,000. Clear Perspectives Financial Planning LLC acquired a new position in shares of AT&T during the fourth quarter valued at $29,000. Arcadia Investment Management Corp MI bought a new position in AT&T in the first quarter valued at about $30,000. Finally, Iron Horse Wealth Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $31,000. 51.17% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE T opened at $32.24 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.84 and a current ratio of 0.84. AT&T Inc. has a 52-week low of $26.35 and a 52-week high of $33.24. The stock has a market cap of $230.19 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70. The firm has a 50 day moving average price of $30.87 and a two-hundred day moving average price of $29.45.
The company also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Friday, April 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, April 8th. This represents a $2.08 annualized dividend and a yield of 6.45%. AT&T’s payout ratio is 58.26%.
A number of analysts have commented on T shares. Raymond James lifted their target price on shares of AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Deutsche Bank Aktiengesellschaft raised their target price on AT&T from $31.00 to $34.00 in a report on Wednesday, April 28th. Barclays lifted their price objective on shares of AT&T from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, April 23rd. Oppenheimer reaffirmed a “hold” rating on shares of AT&T in a research note on Monday, April 26th. Finally, Credit Suisse Group cut their price objective on AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.43.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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