Pinnbrook Capital Management LP Increases Position in AT&T Inc. (NYSE:T)

Pinnbrook Capital Management LP raised its holdings in AT&T Inc. (NYSE:T) by 115.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 444,490 shares of the technology company’s stock after acquiring an additional 238,580 shares during the period. AT&T accounts for about 1.0% of Pinnbrook Capital Management LP’s holdings, making the stock its 20th biggest position. Pinnbrook Capital Management LP’s holdings in AT&T were worth $10,121,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of T. Geode Capital Management LLC boosted its position 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 worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. FMR LLC raised its stake in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the period. Swiss National Bank boosted its holdings in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing 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% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock valued at $399,467,000 after buying an additional 325,073 shares during the period. Finally, National Pension Service grew its stake in shares of AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after buying an additional 2,152,016 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on T. Scotiabank lifted their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. UBS Group boosted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Stock Up 1.0 %

NYSE:T opened at $25.88 on Tuesday. 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 $185.66 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $25.93. The stock has a 50-day simple moving average of $23.23 and a 200 day simple moving average of $22.08.

AT&T (NYSE:T) last posted its quarterly 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 return on equity of 13.97% and a net margin of 8.95%. Sell-side analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

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.