SHP Wealth Management bought a new position in shares of AT&T Inc. (NYSE:T – Free Report) during the fourth quarter, HoldingsChannel reports. The fund bought 28,939 shares of the technology company’s stock, valued at approximately $719,000.
A number of other institutional investors have also modified their holdings of T. GGM Financials LLC acquired a new stake in AT&T during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new position in AT&T in the fourth quarter valued at $25,000. Rachor Investment Advisory Services LLC acquired a new position in AT&T in the fourth quarter valued at $25,000. Cresta Advisors Ltd. purchased a new stake in shares of AT&T in the fourth quarter valued at about $26,000. Finally, Blueline Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter valued at about $26,000. 57.10% of the stock is owned by institutional investors and hedge funds.
AT&T Trading Up 0.0%
NYSE:T opened at $22.02 on Friday. The stock has a fifty day moving average price of $24.77 and a two-hundred day moving average price of $25.75. The stock has a market capitalization of $152.97 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.92 and a beta of 0.21. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.87 and a current ratio of 0.92. AT&T Inc. has a 1 year low of $21.99 and a 1 year high of $29.79.
AT&T Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.0%. AT&T’s dividend payout ratio (DPR) is 37.25%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Oppenheimer downgraded shares of AT&T from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 3rd. Arete Research raised AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price objective for the company in a research note on Tuesday, March 10th. Wall Street Zen raised AT&T from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings downgraded AT&T from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Finally, BNP Paribas Exane lowered their target price on AT&T from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. One equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.55.
Get Our Latest Analysis on AT&T
Key Headlines Impacting AT&T
Here are the key news stories impacting AT&T this week:
- Positive Sentiment: AT&T Fiber received strong validation in a new Opensignal report, earning 107 wins across speed, reliability, video, and consistency categories and outperforming competitors in many metro markets. This supports the company’s broadband growth story and may help sentiment around the fiber business. Article
- Neutral Sentiment: AT&T is getting increased investor attention, according to Zacks, but the note does not point to a specific new catalyst; it mainly reflects elevated interest in the name. Article
- Negative Sentiment: California asked a court and the FCC to block AT&T’s request to stop offering traditional copper-wire phone service to new customers, highlighting regulatory resistance to AT&T’s network transition plans. That could delay the company’s cost-cutting and modernization efforts. Article
- Negative Sentiment: Related reports say AT&T wants to cancel wireline phone service for about 199,000 people, but California’s pushback suggests this plan could face hurdles, adding uncertainty around the copper-network exit. Article
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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