Capital Asset Advisory Services LLC Raises Stock Position in AT&T Inc. (NYSE:T)

Capital Asset Advisory Services LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,022 shares of the technology company’s stock after acquiring an additional 2,768 shares during the period. Capital Asset Advisory Services LLC’s holdings in AT&T were worth $2,948,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of T. Geode Capital Management LLC grew its stake in AT&T by 2.3% in the 3rd 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 grew its stake in AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after buying an additional 1,149,688 shares in the last quarter. Swiss National Bank grew its stake in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in AT&T by 7.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after buying an additional 1,206,330 shares in the last quarter. Finally, National Pension Service grew its stake in AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, January 16th. Wells Fargo & Company lowered their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Up 0.7 %

Shares of NYSE T opened at $22.69 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The firm has a market capitalization of $162.77 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The firm has a fifty day simple moving average of $22.80 and a two-hundred day simple moving average of $21.46.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is presently 90.24%.

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.