Mather Group LLC. Boosts Stake in AT&T Inc. (NYSE:T)

Mather Group LLC. increased its position in AT&T Inc. (NYSE:T – Get Rating) by 62.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,174 shares of the technology company’s stock after buying an additional 12,316 shares during the period. Mather Group LLC.’s holdings in AT&T were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. purchased a new stake in AT&T during the second quarter valued at approximately $29,000. New Millennium Group LLC purchased a new stake in AT&T during the second quarter valued at approximately $34,000. Eisler Capital UK Ltd. purchased a new stake in AT&T during the third quarter valued at approximately $36,000. Bay Harbor Wealth Management LLC purchased a new stake in AT&T during the third quarter valued at approximately $36,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in AT&T during the third quarter valued at approximately $45,000. 51.86% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.8 %

Shares of NYSE T opened at $18.44 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $131.47 billion, a PE ratio of -15.50, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66. The stock’s fifty day simple moving average is $19.26 and its two-hundred day simple moving average is $18.18. AT&T Inc. has a 12-month low of $14.46 and a 12-month high of $21.53.

AT&T (NYSE:T – Get Rating) last announced its earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $31.30 billion for the quarter, compared to analysts’ expectations of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The business’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, analysts expect that AT&T Inc. will post 2.42 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Monday, January 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.02%. AT&T’s dividend payout ratio is presently -93.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley downgraded AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a research report on Thursday, December 15th. Citigroup upped their target price on AT&T from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. TheStreet cut AT&T from a “b” rating to a “c” rating in a research note on Wednesday, January 25th. Cowen upped their target price on AT&T from $24.00 to $25.00 in a research note on Thursday, January 26th. Finally, Credit Suisse Group upped their target price on AT&T from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

AT&T Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.