Mitchell & Pahl Private Wealth LLC Has $2.02 Million Stock Holdings in AT&T Inc. (NYSE:T)

Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 4.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 88,679 shares of the technology company’s stock after acquiring an additional 3,654 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in AT&T were worth $2,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC increased its holdings in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of AT&T by 1,901.0% in the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after buying an additional 3,008,549 shares during the period. Franklin Resources Inc. raised its holdings in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Finally, National Pension Service boosted its position in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.2 %

AT&T stock opened at $22.30 on Tuesday. The company has a market capitalization of $159.97 billion, a PE ratio of 18.13, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm’s fifty day moving average is $22.79 and its 200 day moving average is $21.35. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.83.

About AT&T

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.