NewEdge Wealth LLC Boosts Holdings in AT&T Inc. (NYSE:T)

NewEdge Wealth LLC increased its position in AT&T Inc. (NYSE:T) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,864 shares of the technology company’s stock after purchasing an additional 6,553 shares during the quarter. NewEdge Wealth LLC’s holdings in AT&T were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased 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 worth $1,948,943,000 after buying an additional 5,649,277 shares during the last quarter. Geode Capital Management LLC grew its holdings in AT&T by 2.3% during the 3rd 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 in the last quarter. Franklin Resources Inc. increased its position in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service raised its stake in shares of AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of AT&T by 112.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after purchasing an additional 1,546,679 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 2.0 %

Shares of T stock opened at $27.45 on Friday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.49. The firm has a market capitalization of $197.01 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The stock has a fifty day moving average of $23.91 and a two-hundred day moving average of $22.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share 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, research analysts expect that AT&T Inc. will post 2.14 EPS 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 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. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.33.

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.