Nemes Rush Group LLC Purchases 6,667 Shares of AT&T Inc. (NYSE:T)

Nemes Rush Group LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 352.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,557 shares of the technology company’s stock after purchasing an additional 6,667 shares during the period. Nemes Rush Group LLC’s holdings in AT&T were worth $195,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of AT&T in the 4th quarter valued at $1,858,418,000. GQG Partners LLC increased its position in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Assetmark Inc. increased its holdings in AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the period. Vanguard Group Inc. raised its position in shares of AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after acquiring an additional 6,220,442 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on T shares. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Tigress Financial upped their price objective on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Sanford C. Bernstein raised their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.21.

AT&T Stock Up 0.7 %

Shares of NYSE:T opened at $28.49 on Wednesday. AT&T Inc. has a one year low of $15.94 and a one year high of $28.61. The firm has a fifty day moving average price of $25.94 and a two-hundred day moving average price of $23.64. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market cap of $204.47 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s dividend payout ratio is currently 74.50%.

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.