Donoghue Forlines LLC Buys New Position in AT&T Inc. (NYSE:T)

Donoghue Forlines LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 157,213 shares of the technology company’s stock, valued at approximately $3,580,000. AT&T comprises approximately 1.2% of Donoghue Forlines LLC’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds have also recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its position in shares of AT&T by 4.7% during the second quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock worth $9,080,000 after acquiring an additional 21,233 shares during the last quarter. Gabelli Funds LLC increased its stake in AT&T by 5.4% in the 2nd quarter. Gabelli Funds LLC now owns 350,900 shares of the technology company’s stock worth $6,706,000 after buying an additional 18,000 shares during the period. Mill Creek Capital Advisors LLC bought a new stake in AT&T during the 2nd quarter valued at about $203,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in AT&T by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,370,019 shares of the technology company’s stock valued at $26,181,000 after buying an additional 513,484 shares during the period. Finally, BlackBarn Capital Partners LP bought a new position in AT&T in the 2nd quarter worth about $11,466,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Sanford C. Bernstein started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group upped their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Down 0.1 %

T opened at $22.30 on Thursday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The business has a 50 day moving average price of $22.80 and a two-hundred day moving average price of $21.40. 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 market cap of $159.97 billion, a PE ratio of 18.09, a P/E/G ratio of 3.53 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. AT&T’s revenue was down .5% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

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

AT&T 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.