Elevation Wealth Partners LLC Buys 587 Shares of AT&T Inc. (NYSE:T)

Elevation Wealth Partners LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 29.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,563 shares of the technology company’s stock after acquiring an additional 587 shares during the period. Elevation Wealth Partners LLC’s holdings in AT&T were worth $58,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after buying an additional 3,630,972 shares during the last quarter. FMR LLC lifted its stake 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 acquiring an additional 1,149,688 shares during the period. Swiss National Bank boosted its holdings in shares of 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 acquiring an additional 104,700 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of AT&T by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock worth $399,467,000 after acquiring an additional 325,073 shares during the period. Finally, National Pension Service raised its holdings in shares of AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.4 %

Shares of AT&T stock opened at $24.56 on Monday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.98. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market capitalization of $176.19 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a fifty day moving average of $23.04 and a 200 day moving average of $21.84.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is currently 74.50%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on T. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

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.