AllSquare Wealth Management LLC increased its stake in AT&T Inc. (NYSE:T) by 2.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,558 shares of the technology company’s stock after purchasing an additional 417 shares during the quarter. AllSquare Wealth Management LLC’s holdings in AT&T were worth $512,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in AT&T by 39.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,496,810 shares of the technology company’s stock valued at $58,495,000 after acquiring an additional 422,207 shares during the period. Bank OZK lifted its position in shares of AT&T by 5.7% during the 4th quarter. Bank OZK now owns 191,940 shares of the technology company’s stock worth $7,501,000 after purchasing an additional 10,327 shares during the last quarter. Capital Financial Planning LLC boosted its stake in AT&T by 22.5% during the 4th quarter. Capital Financial Planning LLC now owns 11,675 shares of the technology company’s stock valued at $456,000 after purchasing an additional 2,141 shares during the period. Bell Bank boosted its stake in AT&T by 25.6% during the 4th quarter. Bell Bank now owns 110,883 shares of the technology company’s stock valued at $4,333,000 after purchasing an additional 22,606 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in AT&T in the 4th quarter valued at approximately $24,341,000. 53.83% of the stock is owned by hedge funds and other institutional investors.
Shares of T stock traded up $0.98 during trading hours on Wednesday, reaching $31.80. 33,353,240 shares of the company were exchanged, compared to its average volume of 33,079,972. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The stock’s fifty day moving average is $29.81 and its two-hundred day moving average is $35.16. The company has a market cap of $214.63 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.76 and a quick ratio of 0.76.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Thursday, April 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.54%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
In other news, Director Stephen J. Luczo bought 36,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was purchased at an average price of $29.38 per share, with a total value of $1,057,680.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Geoffrey Y. Yang bought 6,754 shares of the stock in a transaction on Friday, April 24th. The stock was purchased at an average cost of $29.39 per share, with a total value of $198,500.06. Following the purchase, the director now directly owns 9,398 shares of the company’s stock, valued at approximately $276,207.22. The disclosure for this purchase can be found here. Corporate insiders own 0.07% of the company’s stock.
Several analysts have issued reports on the stock. Cowen lowered shares of AT&T from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $43.00 to $37.00 in a research report on Monday, March 23rd. Argus reissued a “buy” rating on shares of AT&T in a research report on Friday, March 27th. Nomura cut their price target on AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Royal Bank of Canada reissued a “hold” rating and set a $38.00 price objective on shares of AT&T in a report on Thursday, January 30th. Finally, Guggenheim lowered their price objective on AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.02.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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