Slocum Gordon & Co LLP Boosts Stake in AT&T Inc. (NYSE:T)

Slocum Gordon & Co LLP boosted its stake in AT&T Inc. (NYSE:T) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 109,797 shares of the technology company’s stock after purchasing an additional 5,336 shares during the period. AT&T comprises approximately 2.1% of Slocum Gordon & Co LLP’s portfolio, making the stock its 16th largest position. Slocum Gordon & Co LLP’s holdings in AT&T were worth $2,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings 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. FMR LLC boosted its position in AT&T by 1.9% in 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 during the period. Swiss National Bank grew its stake in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of AT&T by 1.9% during 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 stake 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 valued at $346,934,000 after acquiring an additional 2,152,016 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of several recent research reports. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. lifted their price target 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. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group lifted their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Stock Performance

Shares of AT&T stock opened at $24.46 on Friday. The stock has a market capitalization of $175.47 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 2.71 and a beta of 0.59. The firm’s fifty day simple moving average is $23.01 and its 200-day simple moving average is $21.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.54%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

About AT&T

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.