Oak Thistle LLC Buys New Stake in AT&T Inc. $T

Oak Thistle LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 85,188 shares of the technology company’s stock, valued at approximately $2,406,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after purchasing an additional 10,310,560 shares during the last quarter. State Street Corp raised its holdings in shares of AT&T by 2.4% in the second quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock worth $9,291,781,000 after buying an additional 7,404,376 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the second quarter worth approximately $5,266,758,000. Geode Capital Management LLC lifted its stake in shares of AT&T by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock worth $4,958,066,000 after acquiring an additional 2,066,026 shares during the last quarter. Finally, Norges Bank purchased a new position in AT&T during the 2nd quarter valued at $2,228,655,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $24.03 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $25.33 and a two-hundred day moving average of $27.21. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The firm has a market capitalization of $170.32 billion, a PE ratio of 7.80, a P/E/G ratio of 1.42 and a beta of 0.38.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.6%. AT&T’s payout ratio is 36.04%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on T. Morgan Stanley decreased their target price on AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. TD Cowen boosted their price objective on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. UBS Group reiterated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Finally, Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.55.

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.