AT&T Inc. (T) Position Lifted by Selway Asset Management

Selway Asset Management increased its stake in AT&T Inc. (NYSE:T) by 198.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 99,852 shares of the technology company’s stock after acquiring an additional 66,404 shares during the quarter. AT&T comprises 2.1% of Selway Asset Management’s holdings, making the stock its 17th largest position. Selway Asset Management’s holdings in AT&T were worth $2,850,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of T. TCI Wealth Advisors Inc. grew its position in shares of AT&T by 0.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 62,943 shares of the technology company’s stock worth $1,796,000 after buying an additional 330 shares during the last quarter. Legacy Advisors LLC grew its position in shares of AT&T by 1.7% in the 4th quarter. Legacy Advisors LLC now owns 21,287 shares of the technology company’s stock worth $608,000 after buying an additional 363 shares during the last quarter. Butensky & Cohen Financial Security Inc. grew its position in shares of AT&T by 0.7% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 61,929 shares of the technology company’s stock worth $1,767,000 after buying an additional 429 shares during the last quarter. Advocacy Wealth Management Services LLC grew its position in shares of AT&T by 10.6% in the 4th quarter. Advocacy Wealth Management Services LLC now owns 5,200 shares of the technology company’s stock worth $148,000 after buying an additional 500 shares during the last quarter. Finally, HT Partners LLC grew its position in shares of AT&T by 4.3% in the 4th quarter. HT Partners LLC now owns 12,024 shares of the technology company’s stock worth $343,000 after buying an additional 500 shares during the last quarter. 64.60% of the stock is currently owned by institutional investors.

T stock opened at $31.62 on Friday. The company has a market capitalization of $187.06 billion, a P/E ratio of 8.98, a P/E/G ratio of 1.29 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.84. AT&T Inc. has a 52 week low of $26.80 and a 52 week high of $34.53.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. AT&T had a net margin of 10.59% and a return on equity of 13.16%. The business had revenue of $44.83 billion during the quarter, compared to analysts’ expectations of $45.20 billion. During the same period in the previous year, the business posted $0.85 EPS. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 3.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 6.45%. The ex-dividend date was Tuesday, April 9th. AT&T’s payout ratio is 57.95%.

A number of research analysts have recently issued reports on T shares. Desjardins reaffirmed an “average” rating and issued a $56.50 price objective on shares of AT&T in a research report on Friday, April 5th. Cowen reaffirmed a “buy” rating and issued a $35.00 price objective on shares of AT&T in a research report on Thursday, January 31st. Barclays set a $32.00 target price on shares of AT&T and gave the stock a “hold” rating in a research note on Friday, January 18th. Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Friday, March 15th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.32.

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About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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