Viking Fund Management LLC increased its position in AT&T Inc. (NYSE:T) by 8.6% in the 4th quarter, HoldingsChannel reports. The fund owned 228,000 shares of the technology company’s stock after purchasing an additional 18,000 shares during the period. AT&T accounts for about 2.5% of Viking Fund Management LLC’s holdings, making the stock its 5th biggest position. Viking Fund Management LLC’s holdings in AT&T were worth $8,910,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in T. JJJ Advisors Inc. bought a new stake in shares of AT&T during the 3rd quarter valued at $27,000. Bourgeon Capital Management LLC purchased a new position in AT&T during the 3rd quarter valued at about $45,000. Fulcrum Equity Management bought a new stake in shares of AT&T during the third quarter valued at about $51,000. Corbenic Partners LLC bought a new stake in shares of AT&T during the fourth quarter valued at about $54,000. Finally, Quantum Capital Management bought a new stake in shares of AT&T during the third quarter valued at about $57,000. 53.60% of the stock is owned by institutional investors.
A number of research firms have recently commented on T. UBS Group raised their price objective on shares of AT&T from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, November 4th. SunTrust Banks boosted their price objective on shares of AT&T to $36.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th. Standpoint Research lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, November 1st. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Monday, December 16th. Finally, Raymond James reissued a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of AT&T in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.22.
AT&T (NYSE:T) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company had revenue of $44.59 billion for the quarter, compared to analysts’ expectations of $45.45 billion. AT&T had a net margin of 8.97% and a return on equity of 13.42%. AT&T’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. On average, analysts predict that AT&T Inc. will post 3.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from AT&T’s previous quarterly dividend of $0.51. AT&T’s payout ratio is currently 59.09%.
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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