Hobart Private Capital LLC Buys Shares of 9,993 AT&T Inc. (NYSE:T)

Hobart Private Capital LLC purchased a new position in AT&T Inc. (NYSE:T) in the fourth quarter, Holdings Channel.com reports. The firm purchased 9,993 shares of the technology company’s stock, valued at approximately $228,000.

Several other hedge funds have also recently made changes to their positions in T. Geode Capital Management LLC raised its holdings in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Franklin Resources Inc. increased its stake in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. National Pension Service lifted its stake in shares of AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after buying an additional 2,152,016 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in AT&T by 112.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after buying an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of AT&T by 7.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after acquiring an additional 1,206,330 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 29th. Scotiabank lifted their price objective on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Stock Performance

T stock opened at $24.56 on Friday. The firm has a 50-day simple moving average of $23.04 and a two-hundred day simple moving average of $21.81. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98. The firm has a market cap of $176.19 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 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.