Suvretta Capital Management LLC Purchases 98,450 Shares of AT&T Inc. (NYSE:T)

Suvretta Capital Management LLC lifted its holdings in AT&T Inc. (NYSE:T) by 4.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,285,336 shares of the technology company’s stock after acquiring an additional 98,450 shares during the period. AT&T makes up approximately 1.6% of Suvretta Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Suvretta Capital Management LLC’s holdings in AT&T were worth $50,277,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its position in AT&T by 247.1% during the first quarter. Cetera Investment Advisers now owns 2,871,055 shares of the technology company’s stock worth $50,531,000 after purchasing an additional 2,043,879 shares during the period. Cetera Advisors LLC lifted its holdings in shares of AT&T by 72.2% during the 1st quarter. Cetera Advisors LLC now owns 1,084,283 shares of the technology company’s stock worth $19,083,000 after acquiring an additional 454,775 shares during the period. Cetera Advisor Networks LLC raised its position in AT&T by 2.7% during the first quarter. Cetera Advisor Networks LLC now owns 1,354,890 shares of the technology company’s stock valued at $23,846,000 after purchasing an additional 35,252 shares in the last quarter. Soltis Investment Advisors LLC boosted its holdings in shares of AT&T by 44.2% in the 1st quarter. Soltis Investment Advisors LLC now owns 96,148 shares of the technology company’s stock valued at $1,692,000 after purchasing an additional 29,460 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in AT&T by 4.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,402,421 shares of the technology company’s stock valued at $42,157,000 after buying an additional 94,566 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.8 %

NYSE T opened at $23.27 on Friday. The stock has a market capitalization of $166.97 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.49 and a beta of 0.59. The business has a 50 day simple moving average of $22.14 and a 200 day simple moving average of $20.09. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.77%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Citigroup lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.53.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.