Red Door Wealth Management LLC Purchases 1,717 Shares of AT&T Inc. (NYSE:T)

Red Door Wealth Management LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,443 shares of the technology company’s stock after purchasing an additional 1,717 shares during the quarter. Red Door Wealth Management LLC’s holdings in AT&T were worth $784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its holdings in shares of AT&T by 4.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock valued at $9,080,000 after purchasing an additional 21,233 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AT&T during the 2nd quarter valued at $44,000. AQR Capital Management LLC grew its holdings in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. APG Asset Management N.V. increased its position in AT&T by 6.8% in the 2nd quarter. APG Asset Management N.V. now owns 4,621,726 shares of the technology company’s stock valued at $82,408,000 after acquiring an additional 294,388 shares during the period. Finally, Ameriprise Financial Inc. raised its position in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Evercore ISI upped 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. JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Argus 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 note on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Stock Up 0.9 %

T opened at $22.51 on Friday. The business’s fifty day simple moving average is $22.80 and its 200 day simple moving average is $21.40. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $161.54 billion, a PE ratio of 18.30, a P/E/G ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.