Royal Bank of Canada increased its position in shares of AT&T Inc. (NYSE:T – Free Report) by 5.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 38,893,766 shares of the technology company’s stock after buying an additional 2,014,217 shares during the quarter. Royal Bank of Canada’s holdings in AT&T were worth $966,121,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. GGM Financials LLC acquired a new stake in shares of AT&T in the third quarter valued at approximately $25,000. Rachor Investment Advisory Services LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Cresta Advisors Ltd. acquired a new position in shares of AT&T in the 4th quarter valued at $26,000. Blueline Advisors LLC purchased a new stake in AT&T in the 4th quarter valued at $26,000. Finally, Winnow Wealth LLC raised its position in AT&T by 362.8% in the 4th quarter. Winnow Wealth LLC now owns 1,046 shares of the technology company’s stock valued at $26,000 after purchasing an additional 820 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.
AT&T Stock Performance
NYSE:T opened at $23.16 on Wednesday. The firm’s fifty day moving average price is $25.12 and its 200 day moving average price is $25.82. AT&T Inc. has a 1-year low of $22.32 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.92 and a quick ratio of 0.87. The firm has a market cap of $160.94 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 0.97 and a beta of 0.21.
AT&T Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, April 10th. AT&T’s dividend payout ratio (DPR) is 37.25%.
Wall Street Analyst Weigh In
T has been the subject of a number of recent research reports. Citigroup increased their price target on shares of AT&T from $29.00 to $31.50 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Scotiabank decreased their price target on shares of AT&T from $31.50 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, April 23rd. Wall Street Zen cut shares of AT&T from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Morgan Stanley initiated coverage on shares of AT&T in a research note on Thursday, April 16th. They set an “overweight” rating and a $30.00 price target for the company. Finally, Oppenheimer cut shares of AT&T from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.55.
Check Out Our Latest Research Report on AT&T
AT&T 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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