Red Door Wealth Management LLC Purchases 1,717 Shares of AT&T Inc. (NYSE:T)

Red Door Wealth Management LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,443 shares of the technology company’s stock after purchasing an additional 1,717 shares during the quarter. Red Door Wealth Management LLC’s holdings in AT&T were worth $784,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. FMR LLC lifted its holdings in shares of AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares during the last quarter. Legal & General Group Plc grew its position in AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. increased its stake in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $22.51 on Friday. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company has a market capitalization of $161.54 billion, a PE ratio of 18.30, a P/E/G ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a 50-day simple moving average of $22.80 and a two-hundred day simple moving average of $21.40.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.93%. AT&T’s dividend payout ratio is presently 90.24%.

Analysts Set New Price Targets

Several research analysts have commented on T shares. The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $22.00 to $26.00 in a report on Monday, January 6th. Oppenheimer began coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Evercore ISI upped their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Citigroup raised their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.