Larson Financial Group LLC Increases Position in AT&T Inc. (NYSE:T)

Larson Financial Group LLC raised its holdings in AT&T Inc. (NYSE:T) by 7.1% in the fourth quarter, Holdings Channel reports. The fund owned 42,273 shares of the technology company’s stock after buying an additional 2,792 shares during the period. Larson Financial Group LLC’s holdings in AT&T were worth $963,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Assetmark Inc. increased its position in AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after buying an additional 5,649,277 shares during the period. Geode Capital Management LLC grew its stake in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after buying an additional 3,630,972 shares during the period. Franklin Resources Inc. increased its holdings in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of AT&T by 112.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after buying an additional 1,546,679 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the subject of several analyst reports. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Scotiabank increased their price objective on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Citigroup lifted their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.74.

AT&T Stock Performance

NYSE:T opened at $27.15 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $194.85 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The firm’s fifty day moving average price is $24.30 and its 200 day moving average price is $22.84. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is 74.50%.

AT&T 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.