71,869 Shares in AT&T Inc. (NYSE:T) Purchased by Center For Asset Management LLC

Center For Asset Management LLC acquired a new stake in AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 71,869 shares of the technology company’s stock, valued at approximately $1,636,000. AT&T accounts for 1.1% of Center For Asset Management LLC’s portfolio, making the stock its 26th largest holding.

Several other institutional investors have also added to or reduced their stakes in T. Geode Capital Management LLC raised its stake in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. FMR LLC grew its holdings in AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares in the last quarter. Swiss National Bank grew its holdings in AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of AT&T by 7.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock valued at $378,807,000 after buying an additional 1,206,330 shares during the period. Finally, National Pension Service lifted its holdings in shares of AT&T by 15.8% in the third 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 in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on T. UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

AT&T Price Performance

T stock opened at $22.69 on Monday. The firm has a market cap of $162.77 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59. The firm’s fifty day moving average is $22.80 and its 200 day moving average is $21.48. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. AT&T’s payout ratio is 90.24%.

AT&T Company Profile

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.