New York Life Investment Management LLC Purchases 8,144 Shares of AT&T Inc. (NYSE:T)

New York Life Investment Management LLC boosted its position in AT&T Inc. (NYSE:T) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 963,304 shares of the technology company’s stock after acquiring an additional 8,144 shares during the quarter. New York Life Investment Management LLC’s holdings in AT&T were worth $21,934,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Schnieders Capital Management LLC increased its stake in AT&T by 4.0% in the fourth quarter. Schnieders Capital Management LLC now owns 19,003 shares of the technology company’s stock valued at $433,000 after acquiring an additional 725 shares during the last quarter. Nwam LLC increased its stake in AT&T by 17.0% in the fourth quarter. Nwam LLC now owns 127,703 shares of the technology company’s stock valued at $2,908,000 after acquiring an additional 18,542 shares during the last quarter. NewEdge Wealth LLC increased its stake in AT&T by 9.7% in the fourth quarter. NewEdge Wealth LLC now owns 73,864 shares of the technology company’s stock valued at $1,682,000 after acquiring an additional 6,553 shares during the last quarter. Whipplewood Advisors LLC bought a new position in AT&T in the fourth quarter valued at approximately $71,000. Finally, Simmons Bank boosted its position in AT&T by 9.9% in the fourth quarter. Simmons Bank now owns 47,739 shares of the technology company’s stock valued at $1,087,000 after buying an additional 4,300 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

T stock opened at $26.60 on Thursday. The firm has a market cap of $190.90 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.00 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.16. The company’s fifty day simple moving average is $23.73 and its 200 day simple moving average is $22.46.

AT&T (NYSE:T) last released its 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 8.95% and a return on equity of 13.97%. On average, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price 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. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 29th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein raised their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.33.

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.