Suvretta Capital Management LLC Has $50.28 Million Stock Position in AT&T Inc. (NYSE:T)

Suvretta Capital Management LLC increased its holdings in AT&T Inc. (NYSE:T) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,285,336 shares of the technology company’s stock after acquiring an additional 98,450 shares during the period. AT&T comprises 1.6% of Suvretta Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Suvretta Capital Management LLC’s holdings in AT&T were worth $50,277,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Cetera Investment Advisers lifted its holdings in shares of AT&T by 247.1% in the first quarter. Cetera Investment Advisers now owns 2,871,055 shares of the technology company’s stock valued at $50,531,000 after purchasing an additional 2,043,879 shares in the last quarter. Cetera Advisors LLC raised its position in AT&T by 72.2% in the 1st quarter. Cetera Advisors LLC now owns 1,084,283 shares of the technology company’s stock valued at $19,083,000 after buying an additional 454,775 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in AT&T by 2.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,354,890 shares of the technology company’s stock valued at $23,846,000 after acquiring an additional 35,252 shares in the last quarter. Soltis Investment Advisors LLC boosted its holdings in AT&T by 44.2% during the 1st quarter. Soltis Investment Advisors LLC now owns 96,148 shares of the technology company’s stock worth $1,692,000 after acquiring an additional 29,460 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of AT&T by 4.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,402,421 shares of the technology company’s stock worth $42,157,000 after acquiring an additional 94,566 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on T shares. Evercore ISI boosted their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Oppenheimer upped their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

AT&T Price Performance

Shares of NYSE:T opened at $23.27 on Friday. The firm has a market capitalization of $166.97 billion, a PE ratio of 18.92, a P/E/G ratio of 3.49 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $22.14 and a two-hundred day moving average price of $20.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.38.

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 the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the firm earned $0.64 EPS. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.77%. AT&T’s payout ratio is 90.24%.

AT&T Profile

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.