King Luther Capital Management Corp Has $37.58 Million Position in AT&T Inc. (NYSE:T)

King Luther Capital Management Corp increased its stake in AT&T Inc. (NYSE:T) by 11.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,650,502 shares of the technology company’s stock after purchasing an additional 167,512 shares during the quarter. King Luther Capital Management Corp’s holdings in AT&T were worth $37,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after buying an additional 9,719,036 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Amundi raised its stake in shares of AT&T by 19.8% in the fourth quarter. Amundi now owns 33,963,826 shares of the technology company’s stock valued at $753,318,000 after purchasing an additional 5,614,168 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AT&T by 2.3% in 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 purchasing an additional 3,630,972 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T opened at $27.30 on Tuesday. The stock has a fifty day simple moving average of $24.40 and a two-hundred day simple moving average of $22.90. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97. The firm has a market cap of $195.96 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts anticipate 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. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is currently 74.50%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on T shares. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada increased their target price on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Finally, Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.74.

AT&T 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.