Elevation Wealth Partners LLC Purchases 587 Shares of AT&T Inc. (NYSE:T)

Elevation Wealth Partners LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,563 shares of the technology company’s stock after buying an additional 587 shares during the period. Elevation Wealth Partners LLC’s holdings in AT&T were worth $58,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of AT&T by 2.3% during 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 acquiring an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. raised its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. National Pension Service lifted its stake in AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of AT&T by 112.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after purchasing an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of AT&T by 7.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock valued at $378,807,000 after purchasing an additional 1,206,330 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.4 %

Shares of NYSE T opened at $24.56 on Monday. The firm has a fifty day simple moving average of $23.04 and a two-hundred day simple moving average of $21.84. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $176.19 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.52%. AT&T’s dividend payout ratio is presently 74.50%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on T shares. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, January 16th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup lifted their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

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.