Shulman DeMeo Asset Management LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 83,462 shares of the technology company’s stock after acquiring an additional 924 shares during the quarter. AT&T accounts for approximately 1.1% of Shulman DeMeo Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Shulman DeMeo Asset Management LLC’s holdings in AT&T were worth $3,262,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. JJJ Advisors Inc. bought a new stake in shares of AT&T during the third quarter worth $27,000. Bourgeon Capital Management LLC bought a new stake in shares of AT&T during the third quarter worth $45,000. Fulcrum Equity Management bought a new stake in shares of AT&T during the third quarter worth $51,000. Corbenic Partners LLC bought a new stake in shares of AT&T during the fourth quarter worth $54,000. Finally, Quantum Capital Management bought a new stake in shares of AT&T during the third quarter worth $57,000. 53.60% of the stock is owned by institutional investors.
T has been the subject of several research reports. UBS Group increased their price objective on shares of AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Raymond James restated a “buy” rating and set a $45.00 target price (up previously from $40.00) on shares of AT&T in a report on Tuesday, October 29th. Standpoint Research cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, November 1st. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, December 16th. Finally, Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $39.22.
Shares of T opened at $37.87 on Thursday. AT&T Inc. has a 12 month low of $28.92 and a 12 month high of $39.70. The firm has a fifty day simple moving average of $38.53 and a 200 day simple moving average of $36.76. The stock has a market capitalization of $276.75 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 2.40 and a beta of 0.62. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.79.
AT&T (NYSE:T) last announced its earnings results on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The business had revenue of $44.59 billion during the quarter, compared to analysts’ expectations of $45.45 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.
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 paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.49%. This is a boost from AT&T’s previous quarterly dividend of $0.51. AT&T’s dividend payout ratio (DPR) is currently 59.09%.
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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