TCW Group Inc. Boosts Stock Position in AT&T Inc. (NYSE:T)

TCW Group Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 518.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 989,888 shares of the technology company’s stock after acquiring an additional 829,950 shares during the quarter. TCW Group Inc.’s holdings in AT&T were worth $21,778,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in T. Strategic Financial Concepts LLC grew its holdings in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the third quarter worth $25,000. Riggs Asset Managment Co. Inc. increased its holdings in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. Finally, American Capital Advisory LLC lifted its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on T. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Oppenheimer began coverage on shares of AT&T in a report on Tuesday. They set an “outperform” rating and a $28.00 price objective on the stock. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Sanford C. Bernstein assumed coverage on shares of AT&T in a research report on Tuesday. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

AT&T Price Performance

Shares of NYSE T opened at $23.53 on Wednesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a market cap of $168.80 billion, a PE ratio of 19.13, a P/E/G ratio of 3.63 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a fifty day moving average price of $22.39 and a 200 day moving average price of $20.43.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating 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 firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.72%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

AT&T Profile

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.