Stonegate Investment Group LLC Purchases 3,059 Shares of AT&T Inc. (NYSE:T)

Stonegate Investment Group LLC lifted its holdings in shares of AT&T Inc. (NYSE:TFree Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,997 shares of the technology company’s stock after buying an additional 3,059 shares during the quarter. Stonegate Investment Group LLC’s holdings in AT&T were worth $873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its holdings in shares of AT&T by 85,003.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after buying an additional 76,746,649 shares during the period. Norges Bank acquired a new position in AT&T in the fourth quarter valued at about $1,229,499,000. Ameriprise Financial Inc. increased its holdings in shares of AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after acquiring an additional 34,189,954 shares in the last quarter. FMR LLC raised its position in shares of AT&T by 130.5% during the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after purchasing an additional 32,558,342 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of several research reports. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Citigroup increased their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Tigress Financial boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Barclays lifted their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.61.

Get Our Latest Stock Report on AT&T

AT&T Stock Up 0.2 %

Shares of T opened at $17.54 on Wednesday. The firm has a 50 day simple moving average of $17.17 and a two-hundred day simple moving average of $16.36. The company has a market cap of $125.46 billion, a P/E ratio of 8.95, a P/E/G ratio of 2.64 and a beta of 0.57. AT&T Inc. has a one year low of $13.43 and a one year high of $19.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. Research analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.33%. AT&T’s payout ratio is presently 56.63%.

AT&T Company Profile

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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