Global Retirement Partners LLC Increases Stock Holdings in AT&T Inc. (NYSE:T)


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Global Retirement Partners LLC boosted its position in AT&T Inc. (NYSE:T) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,885 shares of the technology company’s stock after purchasing an additional 1,721 shares during the period. Global Retirement Partners LLC’s holdings in AT&T were worth $1,419,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in T. BlackRock Inc. lifted its position in shares of AT&T by 0.8% during the 4th quarter. BlackRock Inc. now owns 485,568,654 shares of the technology company’s stock valued at $13,964,955,000 after buying an additional 3,666,423 shares in the last quarter. Morgan Stanley lifted its position in shares of AT&T by 4.9% during the 4th quarter. Morgan Stanley now owns 78,703,060 shares of the technology company’s stock valued at $2,263,501,000 after buying an additional 3,680,978 shares in the last quarter. Norges Bank purchased a new position in shares of AT&T during the 4th quarter valued at about $2,019,873,000. Bank of New York Mellon Corp lifted its position in shares of AT&T by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 61,404,948 shares of the technology company’s stock valued at $1,766,006,000 after buying an additional 1,360,766 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of AT&T by 5.3% during the 4th quarter. Nuveen Asset Management LLC now owns 37,240,494 shares of the technology company’s stock valued at $1,071,036,000 after buying an additional 1,870,844 shares in the last quarter. 51.17% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on T. Morgan Stanley cut AT&T from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $36.00 to $34.00 in a report on Thursday, December 17th. CIBC reissued a “buy” rating on shares of AT&T in a report on Wednesday, February 10th. Credit Suisse Group lowered their price target on AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Raymond James reissued a “buy” rating on shares of AT&T in a report on Monday, March 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on AT&T from $36.00 to $31.00 in a report on Monday, February 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.47.

NYSE:T opened at $29.75 on Friday. The company has a market cap of $212.17 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 3.04 and a beta of 0.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $29.78 and its two-hundred day simple moving average is $28.98. AT&T Inc. has a 1 year low of $26.35 and a 1 year high of $33.24.

AT&T (NYSE:T) last released its earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The firm had revenue of $45.70 billion for the quarter, compared to the consensus estimate of $44.58 billion. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. As a group, analysts anticipate that AT&T Inc. will post 3.17 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 6.99%. The ex-dividend date is Thursday, April 8th. AT&T’s dividend payout ratio is currently 58.26%.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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