Cary Street Partners Financial LLC boosted its holdings in AT&T Inc. (NYSE:T – Free Report) by 67.5% in the fourth quarter, Holdings Channel reports. The firm owned 69,723 shares of the technology company’s stock after purchasing an additional 28,109 shares during the quarter. Cary Street Partners Financial LLC’s holdings in AT&T were worth $1,732,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. GGM Financials LLC bought a new position in AT&T in the third quarter valued at $25,000. Rachor Investment Advisory Services LLC bought a new position in AT&T in the fourth quarter valued at $25,000. Cresta Advisors Ltd. bought a new position in AT&T in the fourth quarter valued at $26,000. Cloud Capital Management LLC bought a new position in AT&T in the third quarter valued at $31,000. Finally, Eagle Bay Advisors LLC bought a new position in AT&T in the fourth quarter valued at $29,000. Institutional investors own 57.10% of the company’s stock.
AT&T Price Performance
Shares of AT&T stock opened at $24.87 on Friday. AT&T Inc. has a twelve month low of $22.95 and a twelve month high of $29.79. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 1.05. The company has a 50-day simple moving average of $26.44 and a two-hundred day simple moving average of $26.02. The stock has a market capitalization of $172.77 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 0.91 and a beta of 0.23.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s payout ratio is 37.25%.
Analyst Upgrades and Downgrades
T has been the subject of a number of analyst reports. Citigroup raised their target price on shares of AT&T from $29.00 to $31.50 and gave the company a “buy” rating in a research report on Monday, March 23rd. Scotiabank decreased their price objective on shares of AT&T from $31.50 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, April 23rd. KeyCorp lifted their price objective on shares of AT&T from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. TD Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of AT&T in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.55.
Read Our Latest Research Report on AT&T
About AT&T
AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.
AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.
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