NINE MASTS CAPITAL Ltd Acquires New Stake in AT&T Inc. (NYSE:T)

NINE MASTS CAPITAL Ltd bought a new position in AT&T Inc. (NYSE:T) during the 4th quarter, Holdings Channel reports. The institutional investor bought 89,287 shares of the technology company’s stock, valued at approximately $2,033,000. AT&T comprises approximately 0.4% of NINE MASTS CAPITAL Ltd’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. grew its holdings in shares of AT&T by 7.5% during the third quarter. Principal Securities Inc. now owns 118,379 shares of the technology company’s stock valued at $2,604,000 after buying an additional 8,280 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in AT&T by 48.0% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 71,092 shares of the technology company’s stock valued at $1,564,000 after purchasing an additional 23,052 shares during the last quarter. Eads & Heald Wealth Management bought a new stake in shares of AT&T in the 3rd quarter worth $238,000. Lowe Brockenbrough & Co. Inc. increased its holdings in shares of AT&T by 3.9% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 34,404 shares of the technology company’s stock worth $757,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of AT&T by 36.6% during the third quarter. Farther Finance Advisors LLC now owns 109,343 shares of the technology company’s stock valued at $2,405,000 after purchasing an additional 29,292 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 2.0 %

Shares of T stock opened at $27.45 on Monday. The company has a market capitalization of $197.01 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 3.00 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company’s fifty day moving average price is $23.91 and its 200-day moving average price is $22.58. AT&T Inc. has a one year low of $15.94 and a one year high of $27.49.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Citigroup lifted their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Tigress Financial increased their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Company 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.