Dakota Wealth Management Raises Position in AT&T Inc. (NYSE:T)
by Tristan Rich · The Markets Daily
Dakota Wealth Management raised its holdings in AT&T Inc. (NYSE:T – Free Report) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,268 shares of the technology company’s stock after buying an additional 7,348 shares during the period. Dakota Wealth Management’s holdings in AT&T were worth $1,221,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FWL Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth $31,000. V Square Quantitative Management LLC purchased a new stake in shares of AT&T during the 2nd quarter worth $32,000. Financial Freedom LLC purchased a new stake in shares of AT&T during the 4th quarter worth $34,000. Dakota Community Bank & Trust NA lifted its position in shares of AT&T by 2,188.0% during the 2nd quarter. Dakota Community Bank & Trust NA now owns 2,288 shares of the technology company’s stock worth $36,000 after purchasing an additional 2,188 shares during the last quarter. Finally, Maryland Capital Advisors Inc. lifted its position in shares of AT&T by 60.0% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 2,415 shares of the technology company’s stock worth $39,000 after purchasing an additional 906 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.
AT&T Stock Down 0.1 %
Shares of AT&T stock opened at $17.24 on Thursday. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $20.50. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.08. The company’s 50-day simple moving average is $16.25 and its 200-day simple moving average is $15.32.
AT&T (NYSE:T – Get Free Report) last issued its earnings results on Thursday, October 19th. The technology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. AT&T had a negative net margin of 9.29% and a positive return on equity of 16.26%. The company had revenue of $30.35 billion for the quarter, compared to analyst estimates of $30.25 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.43 earnings per share for the current year.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.11 annualized dividend and a yield of 6.44%. AT&T’s payout ratio is currently -72.08%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on T. Scotiabank raised shares of AT&T from a “sector perform” rating to a “sector outperform” rating and set a $18.50 price target for the company in a research report on Friday, October 20th. Citigroup boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Royal Bank of Canada boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Morgan Stanley reduced their price target on shares of AT&T from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Finally, StockNews.com began coverage on shares of AT&T in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $20.68.
AT&T Company Profile
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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