International Assets Investment Management LLC Acquires New Holdings in AT&T Inc. (NYSE:T)

International Assets Investment Management LLC purchased a new stake in AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 645,592 shares of the technology company’s stock, valued at approximately $14,700,000. AT&T accounts for about 0.7% of International Assets Investment Management LLC’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Park National Corp OH grew its holdings in shares of AT&T by 1.1% during the fourth quarter. Park National Corp OH now owns 62,854 shares of the technology company’s stock worth $1,431,000 after purchasing an additional 677 shares in the last quarter. Peoples Bank KS lifted its position in AT&T by 5.1% during the fourth quarter. Peoples Bank KS now owns 30,238 shares of the technology company’s stock valued at $688,000 after purchasing an additional 1,475 shares during the last quarter. Spartan Planning & Wealth Management purchased a new position in AT&T in the 4th quarter worth approximately $284,000. Diversified Trust Co increased its holdings in shares of AT&T by 0.7% in the 4th quarter. Diversified Trust Co now owns 170,419 shares of the technology company’s stock worth $3,880,000 after buying an additional 1,192 shares during the last quarter. Finally, Bangor Savings Bank raised its position in shares of AT&T by 1.8% during the 4th quarter. Bangor Savings Bank now owns 75,123 shares of the technology company’s stock valued at $1,711,000 after buying an additional 1,298 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.8 %

T stock traded down $0.17 on Wednesday, reaching $22.03. The company’s stock had a trading volume of 6,136,433 shares, compared to its average volume of 26,016,168. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The business has a fifty day simple moving average of $22.83 and a two-hundred day simple moving average of $21.17. The firm has a market cap of $158.07 billion, a PE ratio of 17.91, a PEG ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last announced its 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 net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The company 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 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

A number of research analysts recently commented on T shares. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein assumed coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group increased their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.76.

About AT&T

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.