SVB Wealth LLC Raises Holdings in AT&T Inc. (NYSE:T)

SVB Wealth LLC raised its position in shares of AT&T Inc. (NYSE:T) by 38.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 154,127 shares of the technology company’s stock after buying an additional 42,686 shares during the quarter. SVB Wealth LLC’s holdings in AT&T were worth $2,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC grew its holdings in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. FWL Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at $31,000. Financial Freedom LLC acquired a new position in shares of AT&T during the 4th quarter valued at $34,000. Lipe & Dalton purchased a new stake in AT&T during the 3rd quarter worth $30,000. Finally, Ramirez Asset Management Inc. acquired a new stake in AT&T in the 3rd quarter valued at $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Tigress Financial increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.68.

AT&T Stock Performance

T opened at $16.12 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $17.02 and its 200-day moving average is $16.48. The stock has a market cap of $115.30 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.87.

AT&T (NYSE:T) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.89%. AT&T’s dividend payout ratio is presently 56.63%.

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.