NuWave Investment Management LLC Takes $40,000 Position in AT&T Inc. (T)

NuWave Investment Management LLC acquired a new position in shares of AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,409 shares of the technology company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors have also modified their holdings of T. Legacy Capital Partners Inc. boosted its position in AT&T by 21.2% during the 3rd quarter. Legacy Capital Partners Inc. now owns 67,966 shares of the technology company’s stock worth $2,282,000 after purchasing an additional 11,870 shares during the period. Private Asset Management Inc. boosted its position in AT&T by 7.4% during the 3rd quarter. Private Asset Management Inc. now owns 366,384 shares of the technology company’s stock worth $12,303,000 after purchasing an additional 25,236 shares during the period. Sound Income Strategies LLC boosted its position in AT&T by 36.9% during the 3rd quarter. Sound Income Strategies LLC now owns 51,741 shares of the technology company’s stock worth $1,737,000 after purchasing an additional 13,955 shares during the period. Verde Servicos Internacionais S.A. purchased a new stake in AT&T during the 3rd quarter worth $2,718,000. Finally, New England Research & Management Inc. boosted its position in AT&T by 70.7% during the 3rd quarter. New England Research & Management Inc. now owns 23,910 shares of the technology company’s stock worth $803,000 after purchasing an additional 9,905 shares during the period. 64.59% of the stock is owned by institutional investors.

A number of research firms have weighed in on T. Desjardins reissued an “average” rating and issued a $56.50 price objective on shares of AT&T in a research report on Friday, April 5th. Barclays set a $32.00 price objective on shares of AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. ValuEngine raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Cowen reissued a “buy” rating and issued a $35.00 price objective on shares of AT&T in a research report on Thursday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $36.26.

Shares of AT&T stock opened at $32.25 on Wednesday. The stock has a market capitalization of $197.98 billion, a PE ratio of 9.16, a P/E/G ratio of 1.35 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.86. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $35.76.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.86. The business had revenue of $47.99 billion for the quarter, compared to analyst estimates of $48.50 billion. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 EPS. Sell-side analysts forecast that AT&T Inc. will post 3.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.33%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

In other news, CEO John T. Stankey sold 3,748 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

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AT&T 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.

Further Reading: What is the Quick Ratio?

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

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