AT&T Inc. (NYSE:T) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its stake in AT&T Inc. (NYSE:T) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,277,293 shares of the technology company’s stock after acquiring an additional 98,043 shares during the quarter. AT&T accounts for about 1.8% of Sound Income Strategies LLC’s portfolio, making the stock its 13th biggest holding. Sound Income Strategies LLC’s holdings in AT&T were worth $29,084,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Thrivent Financial for Lutherans lifted its position in shares of AT&T by 4.7% in the second quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock valued at $9,080,000 after acquiring an additional 21,233 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in AT&T in the 2nd quarter valued at $44,000. AQR Capital Management LLC boosted its stake in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of AT&T by 6.8% during the second quarter. APG Asset Management N.V. now owns 4,621,726 shares of the technology company’s stock worth $82,408,000 after buying an additional 294,388 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $22.51 on Friday. The stock has a market capitalization of $161.54 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business has a 50-day moving average of $22.80 and a 200 day moving average of $21.40. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Sanford C. Bernstein assumed coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Citigroup boosted their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Profile

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.