Ibex Wealth Advisors Acquires New Holdings in AT&T Inc. (NYSE:T)

Ibex Wealth Advisors bought a new position in AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 550,822 shares of the technology company’s stock, valued at approximately $12,542,000. AT&T comprises approximately 1.5% of Ibex Wealth Advisors’ investment portfolio, making the stock its 14th biggest position.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of AT&T by 2.3% in the third 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 period. FMR LLC boosted its position in AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Swiss National Bank boosted its position in AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake 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 period. Finally, National Pension Service increased its position in shares of AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock traded up $0.30 during trading on Wednesday, reaching $24.70. The company had a trading volume of 5,575,235 shares, compared to its average volume of 37,399,512. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98. The company has a market cap of $177.19 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The firm has a 50-day simple moving average of $22.86 and a 200-day simple moving average of $21.55.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Scotiabank lifted their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Finally, Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.11.

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.