Assetmark Inc. Boosts Position in AT&T Inc. (NYSE:T)

Assetmark Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 125,702 shares of the technology company’s stock after acquiring an additional 10,395 shares during the quarter. Assetmark Inc.’s holdings in AT&T were worth $2,109,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of T. CreativeOne Wealth LLC increased its position in AT&T by 1.1% in the fourth quarter. CreativeOne Wealth LLC now owns 70,316 shares of the technology company’s stock worth $1,180,000 after buying an additional 756 shares in the last quarter. Quest Partners LLC purchased a new stake in AT&T in the fourth quarter worth about $211,000. Corient Private Wealth LLC increased its position in AT&T by 9.5% in the fourth quarter. Corient Private Wealth LLC now owns 2,218,833 shares of the technology company’s stock worth $37,232,000 after buying an additional 192,391 shares in the last quarter. D.A. Davidson & CO. increased its position in AT&T by 9.9% in the fourth quarter. D.A. Davidson & CO. now owns 485,857 shares of the technology company’s stock worth $8,153,000 after buying an additional 43,604 shares in the last quarter. Finally, Sachetta LLC purchased a new stake in AT&T in the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, March 5th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Monday, April 29th. Scotiabank increased their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Citigroup increased their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Tigress Financial increased their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

Shares of AT&T stock opened at $17.50 on Friday. The stock has a 50 day moving average of $17.05 and a 200 day moving average of $16.86. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The firm has a market cap of $125.48 billion, a PE ratio of 9.41, a PEG ratio of 3.44 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. On average, research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.