Veery Capital LLC Invests $214,000 in AT&T Inc. (NYSE:T)

Veery Capital LLC acquired a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,389 shares of the technology company’s stock, valued at approximately $214,000.

Other large investors have also made changes to their positions in the company. Davidson Kempner Capital Management LP purchased a new stake in AT&T in the 2nd quarter worth approximately $23,888,000. International Assets Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $14,700,000. Swiss National Bank grew its position in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. increased its stake in AT&T by 41.4% in 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 during the last quarter. Finally, Caprock Group LLC lifted its position in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped 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. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $22.00 to $26.00 in a report on Monday, January 6th. Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. upped their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein assumed coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Up 1.2 %

NYSE:T opened at $22.30 on Friday. The stock has a 50-day simple moving average of $22.79 and a 200 day simple moving average of $21.31. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company has a market capitalization of $159.97 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. 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 (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

AT&T Company Profile

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.