Sanders Morris Harris LLC Boosts Holdings in AT&T Inc. $T

Sanders Morris Harris LLC increased its position in shares of AT&T Inc. (NYSE:T) by 294.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,760 shares of the technology company’s stock after buying an additional 36,401 shares during the quarter. Sanders Morris Harris LLC’s holdings in AT&T were worth $1,377,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in T. Vanguard Group Inc. grew its holdings in shares of AT&T by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after purchasing an additional 10,310,560 shares during the period. State Street Corp lifted its position in AT&T by 2.4% in the second quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock valued at $9,291,781,000 after buying an additional 7,404,376 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in AT&T in the second quarter valued at about $5,266,758,000. Geode Capital Management LLC boosted its stake in AT&T by 1.2% during the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock worth $4,958,066,000 after buying an additional 2,066,026 shares during the period. Finally, Norges Bank acquired a new stake in shares of AT&T during the second quarter valued at about $2,228,655,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T stock opened at $24.03 on Wednesday. The firm has a 50 day moving average of $25.33 and a two-hundred day moving average of $27.21. The stock has a market capitalization of $170.32 billion, a PE ratio of 7.80, a P/E/G ratio of 1.42 and a beta of 0.38. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period last year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. AT&T’s payout ratio is currently 36.04%.

Analysts Set New Price Targets

T has been the topic of several recent analyst reports. KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Tuesday, November 11th. Wolfe Research lowered AT&T from an “outperform” rating to a “peer perform” rating in a research report on Monday. UBS Group restated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company dropped their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.55.

AT&T Company 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.