Coastal Investment Advisors Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 16.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,787 shares of the technology company’s stock after buying an additional 11,912 shares during the quarter. AT&T accounts for approximately 0.8% of Coastal Investment Advisors Inc.’s investment portfolio, making the stock its 19th largest position. Coastal Investment Advisors Inc.’s holdings in AT&T were worth $2,389,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Nordea Investment Management AB boosted its stake in shares of AT&T by 102.9% during the second quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock valued at $1,504,524,000 after purchasing an additional 25,658,276 shares during the period. Laidlaw Wealth Management LLC boosted its stake in shares of AT&T by 6,014.1% during the second quarter. Laidlaw Wealth Management LLC now owns 4,833,192 shares of the technology company’s stock valued at $160,000 after purchasing an additional 4,754,142 shares during the period. LSV Asset Management boosted its stake in shares of AT&T by 14.8% during the second quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock valued at $843,455,000 after purchasing an additional 3,606,476 shares during the period. Two Sigma Advisers LP boosted its stake in shares of AT&T by 192.3% during the second quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock valued at $163,594,000 after purchasing an additional 3,560,031 shares during the period. Finally, Newport Trust Co boosted its stake in shares of AT&T by 1.7% during the second quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock valued at $6,075,279,000 after purchasing an additional 3,397,127 shares during the period. 52.29% of the stock is owned by institutional investors.
Shares of T traded down $0.46 during mid-day trading on Friday, hitting $27.82. 42,630,544 shares of the company traded hands, compared to its average volume of 36,971,128. AT&T Inc. has a 1-year low of $26.08 and a 1-year high of $39.70. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $198.22 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The business has a 50 day moving average of $28.47 and a 200 day moving average of $29.69.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, October 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.48%. AT&T’s dividend payout ratio (DPR) is currently 58.26%.
A number of brokerages have recently issued reports on T. KeyCorp lowered shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a research note on Monday, October 5th. Morgan Stanley lowered their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Bank of America reissued a “buy” rating and set a $36.00 target price on shares of AT&T in a research note on Friday, July 24th. Oppenheimer restated a “buy” rating and issued a $38.00 price objective on shares of AT&T in a report on Thursday, October 1st. Finally, Scotiabank downgraded AT&T from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the company from $34.00 to $30.00 in a report on Monday, August 31st. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. AT&T has an average rating of “Hold” and a consensus target price of $33.38.
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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