CX Institutional Has $7.58 Million Stake in AT&T Inc. (NYSE:T)

CX Institutional lifted its position in shares of AT&T Inc. (NYSE:T) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,964 shares of the technology company’s stock after buying an additional 44,162 shares during the period. CX Institutional’s holdings in AT&T were worth $7,582,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T during the 4th quarter worth about $34,000. Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the third quarter worth approximately $35,000. Finally, Reston Wealth Management LLC acquired a new position in AT&T in the 3rd quarter valued at $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $22.64 on Friday. The stock has a market cap of $162.44 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The firm’s 50-day simple moving average is $22.80 and its 200 day simple moving average is $21.40.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Analyst Ratings Changes

T has been the subject of several analyst reports. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI increased their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

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.