Forte Capital LLC ADV Makes New Investment in AT&T Inc. (NYSE:T)

Forte Capital LLC ADV purchased a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,050 shares of the technology company’s stock, valued at approximately $253,000.

Several other institutional investors also recently modified their holdings of the business. Newport Trust Company LLC lifted its holdings in shares of AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after buying an additional 673,043 shares during the period. Northern Trust Corp boosted its position in AT&T by 2.5% in 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. FMR LLC grew its stake in shares of AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after purchasing an additional 32,558,342 shares during the period. Ameriprise Financial Inc. increased its position in shares of AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after purchasing an additional 34,189,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AT&T by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,791,397 shares of the technology company’s stock worth $747,867,000 after purchasing an additional 327,425 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Monday, April 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Finally, TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research 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’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Trading Up 0.2 %

Shares of NYSE T traded up $0.03 during midday trading on Friday, hitting $16.85. The company’s stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The business’s 50 day moving average is $16.97 and its two-hundred day moving average is $16.64. The firm has a market cap of $120.52 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 3.31 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.59%. AT&T’s dividend payout ratio is currently 59.68%.

AT&T 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.