USA Financial Formulas Increases Position in AT&T Inc. (NYSE:T)

USA Financial Formulas increased its stake in shares of AT&T Inc. (NYSE:TFree Report) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,928 shares of the technology company’s stock after buying an additional 2,051 shares during the quarter. USA Financial Formulas’ holdings in AT&T were worth $262,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in T. Bridgefront Capital LLC increased its position in shares of AT&T by 151.6% in the fourth quarter. Bridgefront Capital LLC now owns 26,403 shares of the technology company’s stock valued at $443,000 after buying an additional 15,907 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of AT&T in the fourth quarter valued at about $1,694,000. Gotham Asset Management LLC grew its position in shares of AT&T by 15.7% in the fourth quarter. Gotham Asset Management LLC now owns 959,272 shares of the technology company’s stock valued at $16,097,000 after purchasing an additional 130,135 shares during the last quarter. Fort Sheridan Advisors LLC increased its stake in shares of AT&T by 13.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 96,523 shares of the technology company’s stock worth $1,620,000 after purchasing an additional 11,298 shares in the last quarter. Finally, Palestra Capital Management LLC purchased a new stake in AT&T in the 4th quarter valued at approximately $41,600,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 3.2 %

Shares of AT&T stock opened at $21.23 on Friday. The business has a fifty day simple moving average of $20.64 and a 200-day simple moving average of $18.77. The firm has a market cap of $152.22 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. AT&T Inc. has a fifty-two week low of $14.23 and a fifty-two week high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:TGet Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 63.79%.

Analysts Set New Price Targets

A number of research firms have recently commented on T. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

Read Our Latest Stock Report on T

AT&T Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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