LGT Group Foundation Acquires 28,835 Shares of AT&T Inc. (NYSE:T)

LGT Group Foundation grew its position in shares of AT&T Inc. (NYSE:T) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 657,653 shares of the technology company’s stock after purchasing an additional 28,835 shares during the quarter. LGT Group Foundation’s holdings in AT&T were worth $11,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in T. Carmel Capital Partners LLC increased its position in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. increased its position in AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after buying an additional 2,626 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on T shares. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. Citigroup boosted their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Monday. Finally, TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

Shares of AT&T stock traded down $0.02 on Friday, hitting $16.80. The company had a trading volume of 16,695,678 shares, compared to its average volume of 39,017,699. The business has a 50-day simple moving average of $16.97 and a 200-day simple moving average of $16.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company has a market cap of $120.17 billion, a PE ratio of 9.03, a PEG ratio of 3.33 and a beta of 0.57. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.61%. AT&T’s dividend payout ratio is 59.68%.

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.