Bourne Lent Asset Management Inc. Acquires 499 Shares of AT&T Inc. (NYSE:T)

Bourne Lent Asset Management Inc. increased its position in AT&T Inc. (NYSE:T) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,169 shares of the technology company’s stock after purchasing an additional 499 shares during the period. Bourne Lent Asset Management Inc.’s holdings in AT&T were worth $869,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of T. AQR Capital Management LLC lifted its stake in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the period. Geode Capital Management LLC lifted its stake in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the period. Franklin Resources Inc. lifted its stake in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the period. National Pension Service lifted its stake in 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 acquiring an additional 2,152,016 shares during the period. Finally, Caxton Associates LP lifted its stake in AT&T by 4,115.6% during the 2nd quarter. Caxton Associates LP now owns 2,151,025 shares of the technology company’s stock valued at $41,106,000 after acquiring an additional 2,100,000 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on T. Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Performance

T stock opened at $22.49 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business’s fifty day simple moving average is $22.79 and its two-hundred day simple moving average is $21.37. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The firm has a market cap of $161.40 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.93%. AT&T’s dividend payout ratio is currently 90.24%.

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.