Leonteq Securities AG purchased a new stake in AT&T Inc. (NYSE:T – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 219,986 shares of the technology company’s stock, valued at approximately $5,464,000.
Other large investors also recently modified their holdings of the company. GGM Financials LLC bought a new position in shares of AT&T in the 3rd quarter valued at $25,000. Rachor Investment Advisory Services LLC bought a new position in shares of AT&T in the 4th quarter valued at $25,000. Cresta Advisors Ltd. bought a new position in shares of AT&T in the 4th quarter valued at $26,000. Cloud Capital Management LLC bought a new position in shares of AT&T in the 3rd quarter valued at $31,000. Finally, Eagle Bay Advisors LLC bought a new position in shares of AT&T in the 4th quarter valued at $29,000. 57.10% of the stock is currently owned by institutional investors.
AT&T Stock Performance
NYSE T opened at $24.93 on Thursday. The company has a market capitalization of $173.19 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 0.92 and a beta of 0.23. AT&T Inc. has a twelve month low of $22.95 and a twelve month high of $29.79. The stock has a fifty day simple moving average of $26.73 and a 200 day simple moving average of $26.00. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 1.05.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Friday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 37.25%.
Key AT&T News
Here are the key news stories impacting AT&T this week:
- Positive Sentiment: AT&T unveiled a large $19 billion California network investment plan, signaling long-term growth in fiber and wireless services and reinforcing its infrastructure upgrade strategy. AT&T Makes $19 Billion Commitment to Bring High-Speed Connectivity to California
- Positive Sentiment: Royal Bank of Canada reaffirmed its outperform rating and kept a $31 price target, suggesting meaningful upside from recent trading levels. AT&T rating reaffirmed by RBC
- Positive Sentiment: AT&T Fiber was ranked #1 in customer satisfaction for the fourth straight year, which may support subscriber growth and lower churn. Four Years at #1: AT&T Fiber Customers Are the Happiest
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on T shares. Morgan Stanley started coverage on AT&T in a research note on Thursday, April 16th. They issued an “overweight” rating and a $30.00 price target for the company. Scotiabank decreased their price objective on AT&T from $31.50 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, April 23rd. Williams Trading set a $32.00 price objective on AT&T in a report on Thursday, January 29th. Citigroup increased their price objective on AT&T from $29.00 to $31.50 and gave the company a “buy” rating in a report on Monday, March 23rd. Finally, UBS Group restated a “buy” rating on shares of AT&T in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.55.
Read Our Latest Report on AT&T
AT&T Company Profile
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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