Goldstone Financial Group LLC Grows Stock Position in AT&T Inc. (NYSE:T)

Goldstone Financial Group LLC grew its stake in AT&T Inc. (NYSE:T) by 7.3% during the 4th quarter, HoldingsChannel reports. The firm owned 34,059 shares of the technology company’s stock after buying an additional 2,311 shares during the quarter. Goldstone Financial Group LLC’s holdings in AT&T were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Geode Capital Management LLC raised its stake in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the period. FMR LLC raised its position in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Legal & General Group Plc lifted its holdings in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of AT&T by 2.5% during the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Sanford C. Bernstein initiated coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Performance

Shares of T stock opened at $22.02 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market cap of $157.96 billion, a P/E ratio of 17.90, a P/E/G ratio of 3.46 and a beta of 0.59. The firm’s 50 day moving average price is $22.79 and its 200-day moving average price is $21.28. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 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.