Fosun International Ltd Acquires 13,000 Shares of AT&T Inc. (T)

Fosun International Ltd boosted its holdings in AT&T Inc. (NYSE:T) by 78.8% in the 4th quarter, Holdings Channel reports. The firm owned 29,500 shares of the technology company’s stock after purchasing an additional 13,000 shares during the period. Fosun International Ltd’s holdings in AT&T were worth $830,000 at the end of the most recent quarter.

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

Several brokerages recently issued reports on T. Barclays set a $32.00 price target on shares of AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. Cowen reiterated a “buy” rating and set a $35.00 price target on shares of AT&T in a research report on Thursday, January 31st. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Desjardins reiterated an “average” rating and set a $56.50 price target on shares of AT&T in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $36.32.

Shares of T opened at $31.80 on Friday. The stock has a market capitalization of $194.24 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.58. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.72 and a current ratio of 0.72. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two 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 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.86. The business had revenue of $44.83 billion for the quarter, compared to analysts’ expectations of $45.20 billion. AT&T had a net margin of 10.59% and a return on equity of 13.16%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 3.59 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

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AT&T Company Profile

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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