Apexium Financial LP Buys 2,630 Shares of AT&T Inc. (NYSE:T)

Apexium Financial LP grew its stake in AT&T Inc. (NYSE:T) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,198 shares of the technology company’s stock after purchasing an additional 2,630 shares during the quarter. Apexium Financial LP’s holdings in AT&T were worth $1,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T during the 4th quarter worth $34,000. Reston Wealth Management LLC bought a new stake in AT&T during the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T in the 3rd quarter valued at about $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein assumed coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. The Goldman Sachs Group boosted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Trading Up 0.7 %

Shares of AT&T stock opened at $22.69 on Monday. 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 has a fifty day simple moving average of $22.80 and a 200 day simple moving average of $21.46. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a market capitalization of $162.77 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

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. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.