Syon Capital LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Syon Capital LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 46.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,652 shares of the technology company’s stock after acquiring an additional 5,269 shares during the quarter. Syon Capital LLC’s holdings in AT&T were worth $279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of T. Ameriprise Financial Inc. increased its holdings in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after acquiring an additional 34,189,954 shares in the last quarter. FMR LLC increased its holdings 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 valued at $863,884,000 after acquiring an additional 32,558,342 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of AT&T by 38.0% during the third quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after acquiring an additional 9,518,478 shares in the last quarter. Barclays PLC increased its holdings in shares of AT&T by 30.6% during the third quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock valued at $393,931,000 after acquiring an additional 6,137,909 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of AT&T by 43.0% during the third quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock valued at $221,242,000 after acquiring an additional 4,432,136 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.0 %

T stock opened at $16.75 on Friday. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a market cap of $119.81 billion, a P/E ratio of 9.01, a PEG ratio of 2.53 and a beta of 0.57. The business’s 50-day moving average price is $16.96 and its 200-day moving average price is $16.57.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.63%. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup raised their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Friday, January 19th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

About AT&T

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.