Knights of Columbus Asset Advisors LLC raised its position in AT&T Inc. (NYSE:T – Free Report) by 13.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 768,138 shares of the technology company’s stock after acquiring an additional 89,291 shares during the period. AT&T comprises approximately 0.9% of Knights of Columbus Asset Advisors LLC’s holdings, making the stock its 20th largest holding. Knights of Columbus Asset Advisors LLC’s holdings in AT&T were worth $18,743,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in shares of AT&T in the second quarter valued at $26,000. Addison Advisors LLC bought a new position in AT&T in the second quarter worth $27,000. Robinswood Financial LLC bought a new position in AT&T in the first quarter worth $29,000. Matrix Trust Co lifted its position in AT&T by 331.8% in the second quarter. Matrix Trust Co now owns 1,494 shares of the technology company’s stock worth $31,000 after purchasing an additional 1,148 shares during the period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in AT&T during the third quarter worth $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on T. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a report on Thursday, July 23rd. Arete Research reduced their price objective on shares of AT&T from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Barclays reduced their price objective on shares of AT&T from $24.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, October 22nd. Citigroup decreased their target price on shares of AT&T from $31.50 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Finally, Morgan Stanley lowered their target price on shares of AT&T from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.56.
Read Our Latest Stock Report on AT&T
AT&T Price Performance
Shares of T stock opened at $21.95 on Wednesday. The stock’s fifty day simple moving average is $23.80 and its 200 day simple moving average is $24.90. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.82. The firm has a market cap of $147.89 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.08 and a beta of 0.30. AT&T Inc. has a one year low of $19.89 and a one year high of $29.43.
AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The firm had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.69 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post 2.40 earnings per share for the current fiscal year.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Friday, October 9th. AT&T’s payout ratio is currently 60.00%.
Key AT&T News
Here are the key news stories impacting AT&T this week:
- Positive Sentiment: AT&T says it plans to maintain its annual dividend at $1.11 per share and repurchase about $10 billion of stock this year. One valuation analysis also suggests the shares could be roughly 34% below fair value, though that estimate depends on the company’s ability to generate cash over time. Article: The 10-Year Treasury Just Hit 5%. AT&T Pays About the Same Article: AT&T Stock May Be 34% Below Fair Value
- Positive Sentiment: A Cullen Capital Management filing disclosed a purchase of about 1.89 million AT&T shares as of September 30. The delayed filing is a modest positive signal, but does not indicate current trading. Article: Fund Update
- Neutral Sentiment: Dividend-focused analysis describes AT&T’s payout as relatively safe but not growing. The 5% 10-year Treasury yield offers investors a competing income option, potentially limiting the appeal of AT&T’s dividend. Article: How Safe Is Each Dividend Check?
- Negative Sentiment: Coverage emphasized AT&T’s substantial debt burden. Separately, Jim Cramer urged investors to sell, citing the prospect of SpaceX’s Starlink Mobile entering wireless through a nationwide 5G network partnership with Qualcomm. That is a competitive concern, not evidence of an immediate impact on AT&T’s results. Article: Should Dividend Stock Investors Buy AT&T Stock? Article: Jim Cramer on SpaceX and AT&T
AT&T Profile
AT&T Inc. (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions. The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.
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