AT&T Inc. (NYSE:T) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its position in AT&T Inc. (NYSE:T) by 43.5% in the fourth quarter, HoldingsChannel reports. The firm owned 337,600 shares of the technology company’s stock after buying an additional 102,259 shares during the period. Park Avenue Securities LLC’s holdings in AT&T were worth $7,687,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of T. Legacy Investment Solutions LLC purchased a new stake in AT&T in the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in AT&T in the 3rd quarter valued at about $35,000. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter valued at about $35,000. Finally, Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter worth about $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.5 %

NYSE:T opened at $21.90 on Thursday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock’s 50 day simple moving average is $22.80 and its 200-day simple moving average is $21.28. The firm has a market cap of $157.14 billion, a P/E ratio of 17.80, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The company 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 dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.07%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. 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 report on Thursday, October 24th. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $25.76.

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.