Fmr LLC Has $1.34 Billion Position in AT&T Inc. (NYSE:T)

Fmr LLC raised its holdings in AT&T Inc. (NYSE:T) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,986,064 shares of the technology company’s stock after buying an additional 1,149,688 shares during the period. Fmr LLC owned 0.85% of AT&T worth $1,341,693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Coppell Advisory Solutions Corp. bought a new position in shares of AT&T in the 1st quarter valued at about $295,000. iA Global Asset Management Inc. bought a new position in AT&T during the first quarter worth about $3,264,000. New Covenant Trust Company N.A. acquired a new position in AT&T during the first quarter worth approximately $200,000. Investmark Advisory Group LLC raised its stake in AT&T by 2.8% in the first quarter. Investmark Advisory Group LLC now owns 133,770 shares of the technology company’s stock valued at $2,354,000 after buying an additional 3,633 shares during the period. Finally, Kozak & Associates Inc. lifted its position in shares of AT&T by 58.7% in the first quarter. Kozak & Associates Inc. now owns 3,497 shares of the technology company’s stock valued at $61,000 after buying an additional 1,294 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $23.09 on Wednesday. The stock has a fifty day moving average price of $22.07 and a 200-day moving average price of $20.04. The company has a market cap of $165.68 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 3.47 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 $23.32.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.81%. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company reduced their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Moffett Nathanson increased their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Barclays upped their target price on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.