Meritage Portfolio Management Has $5.67 Million Stake in AT&T Inc. (NYSE:T)

Meritage Portfolio Management reduced its position in shares of AT&T Inc. (NYSE:T) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,109 shares of the technology company’s stock after selling 5,179 shares during the period. Meritage Portfolio Management’s holdings in AT&T were worth $5,672,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of T. Geode Capital Management LLC boosted 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 last quarter. Franklin Resources Inc. boosted its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service boosted its position in AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in AT&T by 112.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after purchasing an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of AT&T by 7.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after purchasing an additional 1,206,330 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of several recent analyst reports. UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Tigress Financial raised their price objective on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.21.

AT&T Price Performance

Shares of T opened at $24.26 on Wednesday. The firm has a market cap of $174.05 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The business’s 50 day moving average price is $22.97 and its two-hundred day moving average price is $21.73.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities analysts anticipate that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 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.