Garland Capital Management Inc. Acquires 3,101 Shares of AT&T Inc. (T)

Garland Capital Management Inc. raised its holdings in shares of AT&T Inc. (NYSE:T) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,476 shares of the technology company’s stock after acquiring an additional 3,101 shares during the period. AT&T comprises approximately 2.5% of Garland Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Garland Capital Management Inc.’s holdings in AT&T were worth $3,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of AT&T by 0.6% in the third quarter. Vanguard Group Inc. now owns 531,005,481 shares of the technology company’s stock worth $17,831,164,000 after purchasing an additional 3,379,045 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of AT&T by 0.6% in the third quarter. Vanguard Group Inc now owns 531,005,481 shares of the technology company’s stock worth $17,831,164,000 after purchasing an additional 3,379,045 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AT&T by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 73,430,336 shares of the technology company’s stock worth $2,465,790,000 after purchasing an additional 705,902 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of AT&T by 2.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,223,649 shares of the technology company’s stock worth $813,430,000 after purchasing an additional 548,525 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of AT&T by 5.8% in the third quarter. Prudential Financial Inc. now owns 18,161,798 shares of the technology company’s stock worth $609,873,000 after purchasing an additional 999,338 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Shares of AT&T stock opened at $30.34 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. The firm has a market cap of $197.06 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.35 and a beta of 0.59. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $34.53.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. The business had revenue of $44.83 billion during the quarter, compared to analyst estimates of $45.20 billion. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 3.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 57.95%.

Several analysts recently weighed in on the stock. Cowen reiterated a “buy” rating and issued a $35.00 price target on shares of AT&T in a report on Thursday, January 31st. Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Friday, March 15th. They noted that the move was a valuation call. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Barclays set a $32.00 price target on shares of AT&T and gave the company a “hold” rating in a report on Friday, January 18th. Finally, Desjardins reiterated an “average” rating and issued a $56.50 price target on shares of AT&T in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $36.26.

In other AT&T news, CEO John T. Stankey sold 3,748 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

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AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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