Livforsakringsbolaget Skandia Omsesidigt Buys 6,859 Shares of AT&T Inc. (NYSE:T)

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in AT&T Inc. (NYSE:T) by 76.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,806 shares of the technology company’s stock after acquiring an additional 6,859 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AT&T were worth $265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. lifted its position in AT&T by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 674,638 shares of the technology company’s stock worth $11,320,000 after buying an additional 48,480 shares in the last quarter. Alpha Omega Wealth Management LLC raised its holdings in shares of AT&T by 6.5% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 500,114 shares of the technology company’s stock valued at $8,392,000 after purchasing an additional 30,480 shares during the period. Rakuten Securities Inc. bought a new stake in shares of AT&T in the 4th quarter valued at about $454,000. Scissortail Wealth Management LLC bought a new stake in shares of AT&T in the 4th quarter valued at about $1,742,000. Finally, Tyche Wealth Partners LLC bought a new stake in shares of AT&T in the 4th quarter valued at about $1,029,000. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

NYSE:T traded up $0.04 on Thursday, hitting $16.16. The company had a trading volume of 3,214,559 shares, compared to its average volume of 38,113,246. The firm has a 50 day moving average of $17.02 and a two-hundred day moving average of $16.48. The stock has a market capitalization of $115.59 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 2.43 and a beta of 0.57. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.83. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last released 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 business 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%. AT&T’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is currently 56.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on T shares. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Citigroup upped their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Barclays upped their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Company Profile

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.