Bank of Jackson Hole Trust Makes New $70,000 Investment in AT&T Inc. (NYSE:T)

Bank of Jackson Hole Trust bought a new position in AT&T Inc. (NYSE:T) in the 4th quarter, HoldingsChannel.com reports. The fund bought 3,079 shares of the technology company’s stock, valued at approximately $70,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares in the last quarter. FMR LLC lifted its position in AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Swiss National Bank lifted its position in AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in AT&T by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock valued at $399,467,000 after purchasing an additional 325,073 shares during the last quarter. Finally, National Pension Service lifted its position in AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on T. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Sanford C. Bernstein boosted their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research report on Thursday, February 13th. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price objective on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $26.33.

AT&T Price Performance

Shares of T stock opened at $26.23 on Thursday. The stock has a market cap of $188.28 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.96 and a beta of 0.59. The business’s fifty day moving average is $23.38 and its 200 day moving average is $22.20. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $26.35. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Research analysts expect that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.23%. AT&T’s dividend payout ratio is currently 74.50%.

About AT&T

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.