Sharpepoint LLC Takes $1.70 Million Position in AT&T Inc. (NYSE:T)

Sharpepoint LLC purchased a new stake in AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 74,597 shares of the technology company’s stock, valued at approximately $1,699,000. AT&T accounts for about 1.5% of Sharpepoint LLC’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after acquiring an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after buying an additional 2,640,644 shares in the last quarter. GQG Partners LLC grew its stake in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the last quarter. Finally, Norges Bank purchased a new position in AT&T in the fourth quarter valued at about $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on T. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research report on Thursday, February 13th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, January 29th. Scotiabank increased their target price on AT&T from $28.50 to $29.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 8th. Finally, Royal Bank of Canada upped their price target on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.24.

AT&T Price Performance

NYSE:T opened at $27.12 on Friday. AT&T Inc. has a 52-week low of $16.17 and a 52-week high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $194.67 billion, a P/E ratio of 18.20, a PEG ratio of 3.00 and a beta of 0.42. The business’s 50-day moving average price is $26.84 and its 200 day moving average price is $24.15.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is presently 74.50%.

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.