Gateway Investment Advisers LLC Has $47.32 Million Position in AT&T Inc. (NYSE:T)

Gateway Investment Advisers LLC raised its stake in AT&T Inc. (NYSE:T) by 31.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,078,118 shares of the technology company’s stock after acquiring an additional 496,884 shares during the period. Gateway Investment Advisers LLC’s holdings in AT&T were worth $47,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chesapeake Wealth Management grew its position in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares during the period. Socha Financial Group LLC boosted its stake in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC grew its position in shares of AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after acquiring an additional 468 shares during the period. Essex Savings Bank raised its holdings in shares of AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after purchasing an additional 480 shares during the period. Finally, Hayek Kallen Investment Management raised its holdings in shares of AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T traded up $0.09 during midday trading on Thursday, hitting $22.00. 1,960,800 shares of the company’s stock were exchanged, compared to its average volume of 31,815,340. The business’s fifty day moving average price is $22.80 and its two-hundred day moving average price is $21.28. The company has a market cap of $157.86 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 3.46 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.05%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays raised their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Finally, Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

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.