Fiduciary Alliance LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Fiduciary Alliance LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 259.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,666 shares of the technology company’s stock after acquiring an additional 51,742 shares during the period. Fiduciary Alliance LLC’s holdings in AT&T were worth $1,632,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mercer Global Advisors Inc. ADV lifted its holdings in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after buying an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of AT&T by 43.3% in 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 acquiring an additional 6,602,586 shares in the last quarter. Geode Capital Management LLC boosted its holdings in AT&T by 2.3% in 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 period. Canada Pension Plan Investment Board grew its stake in AT&T by 110.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after purchasing an additional 3,228,888 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in AT&T by 1,901.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock worth $60,518,000 after purchasing an additional 3,008,549 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Sanford C. Bernstein started coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Stock Performance

NYSE:T opened at $21.56 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The firm’s fifty day simple moving average is $22.81 and its 200-day simple moving average is $21.26. The stock has a market cap of $154.70 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. Analysts expect that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

AT&T Company Profile

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.