Diversified LLC Boosts Stake in AT&T Inc. (NYSE:T)

Diversified LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,877 shares of the technology company’s stock after buying an additional 1,643 shares during the quarter. Diversified LLC’s holdings in AT&T were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Newport Trust Company LLC lifted its stake in AT&T by 0.3% during the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after purchasing an additional 673,043 shares during the last quarter. Northern Trust Corp lifted its stake in AT&T by 2.5% during the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after purchasing an additional 1,828,237 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in AT&T by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock worth $905,258,000 after purchasing an additional 334,222 shares during the last quarter. FMR LLC lifted its stake in 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 last quarter. Finally, Ameriprise Financial Inc. lifted its stake in AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T stock opened at $16.31 on Tuesday. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. The company’s 50-day moving average is $16.99 and its 200 day moving average is $16.53. The company has a market capitalization of $116.63 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is presently 56.63%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Tigress Financial increased their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Finally, Barclays upped their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $20.50.

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.