Coastal Investment Advisors Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 9.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,497 shares of the technology company’s stock after acquiring an additional 7,710 shares during the quarter. AT&T makes up about 0.7% of Coastal Investment Advisors Inc.’s portfolio, making the stock its 21st biggest holding. Coastal Investment Advisors Inc.’s holdings in AT&T were worth $2,631,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BNC Wealth Management LLC bought a new stake in AT&T in the 3rd quarter valued at $27,000. ELM Advisors LLC acquired a new position in AT&T in the 4th quarter valued at $59,000. Cerebellum GP LLC acquired a new position in AT&T in the 3rd quarter valued at $62,000. Provident Wealth Management LLC acquired a new position in shares of AT&T during the 3rd quarter worth $70,000. Finally, Planned Solutions Inc. acquired a new position in shares of AT&T during the 3rd quarter worth $81,000. Institutional investors own 52.29% of the company’s stock.
NYSE T opened at $28.61 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $203.87 billion, a PE ratio of 17.55, a PEG ratio of 1.52 and a beta of 0.69. AT&T Inc. has a 1 year low of $26.08 and a 1 year high of $39.14. The business’s 50-day moving average is $29.36 and its 200 day moving average is $29.09.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Monday, January 11th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 8th. This represents a $2.08 annualized dividend and a yield of 7.27%. AT&T’s payout ratio is 58.26%.
A number of brokerages recently weighed in on T. Credit Suisse Group reduced their price objective on AT&T from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, October 23rd. Morgan Stanley lowered AT&T from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $36.00 to $34.00 in a research report on Thursday, December 17th. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 1st. Wolfe Research began coverage on AT&T in a research note on Monday, October 19th. They issued a “peer perform” rating and a $31.00 price objective for the company. Finally, Raymond James raised AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Monday, January 4th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $32.40.
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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