Grassi Investment Management grew its position in AT&T Inc. (NYSE:T) by 2.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 315,632 shares of the technology company’s stock after purchasing an additional 7,125 shares during the period. AT&T accounts for 1.8% of Grassi Investment Management’s investment portfolio, making the stock its 17th biggest holding. Grassi Investment Management’s holdings in AT&T were worth $11,944,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Loeb Partners Corp grew its holdings in AT&T by 0.6% during the 4th quarter. Loeb Partners Corp now owns 97,617 shares of the technology company’s stock worth $2,786,000 after acquiring an additional 600 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in AT&T in the fourth quarter worth about $491,000. TCG Advisors LP purchased a new stake in AT&T in the fourth quarter worth about $1,203,000. Wealth Advisors of Tampa Bay LLC grew its holdings in AT&T by 0.9% in the fourth quarter. Wealth Advisors of Tampa Bay LLC now owns 134,819 shares of the technology company’s stock worth $3,852,000 after purchasing an additional 1,164 shares during the period. Finally, FLC Capital Advisors purchased a new stake in AT&T in the fourth quarter worth about $1,042,000. 53.02% of the stock is owned by institutional investors.
T has been the topic of a number of recent research reports. Desjardins restated an “average” rating and issued a $55.50 price objective on shares of AT&T in a report on Tuesday, August 6th. Bank of America restated a “buy” rating on shares of AT&T in a report on Monday, September 9th. ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Oppenheimer set a $41.00 price target on shares of AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Raymond James increased their price target on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.10.
Shares of NYSE:T traded up $0.10 during trading on Friday, reaching $37.29. 9,448,173 shares of the stock traded hands, compared to its average volume of 38,853,848. The stock has a 50-day moving average of $36.30 and a two-hundred day moving average of $33.30. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $272.57 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 3.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.47%. AT&T’s dividend payout ratio (DPR) is 57.95%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
Recommended Story: Blockchain
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.