Fifth Third Bancorp Acquires 12,927 Shares of AT&T Inc. (NYSE:T)

Fifth Third Bancorp boosted its holdings in shares of AT&T Inc. (NYSE:T) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 933,782 shares of the technology company’s stock after acquiring an additional 12,927 shares during the quarter. Fifth Third Bancorp’s holdings in AT&T were worth $26,407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Consolidated Planning Corp raised its position in AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after acquiring an additional 21,927 shares in the last quarter. Keystone Financial Group increased its position in AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after buying an additional 143,744 shares during the last quarter. World Investment Advisors increased its position in AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after buying an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. increased its position in AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after buying an additional 365,776 shares during the last quarter. Finally, West Family Investments Inc. increased its position in AT&T by 70.4% during the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock worth $864,000 after buying an additional 15,680 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $28.25 on Friday. The firm’s 50-day moving average is $27.38 and its 200-day moving average is $25.59. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $203.28 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.93%. AT&T’s dividend payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

T has been the topic of several analyst reports. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Oppenheimer raised their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Evercore ISI upped their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. Finally, TD Securities upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

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.