MeadowBrook Investment Advisors LLC Takes Position in AT&T Inc. (NYSE:T)

MeadowBrook Investment Advisors LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 4th quarter, Holdings Channel reports. The fund purchased 12,121 shares of the technology company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Carmel Capital Partners LLC boosted its stake in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,625 shares in the last quarter. Lipe & Dalton purchased a new stake in AT&T during the third quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T during the third quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. increased its stake in shares of AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after purchasing an additional 2,626 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of NYSE:T traded up $0.14 during mid-day trading on Monday, reaching $16.99. 24,179,539 shares of the company traded hands, compared to its average volume of 38,930,922. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $121.82 billion, a PE ratio of 9.15, a PEG ratio of 3.32 and a beta of 0.57. The company’s 50 day moving average price is $16.97 and its 200-day moving average price is $16.67.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the prior year, the company posted $0.60 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.53%. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

T has been the subject of several recent research reports. Citigroup lifted their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Tigress Financial raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Finally, Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $20.81.

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.