Fortis Group Advisors LLC Has $2.69 Million Position in AT&T Inc. (NYSE:T)

Fortis Group Advisors LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 131.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 118,016 shares of the technology company’s stock after purchasing an additional 67,053 shares during the period. Fortis Group Advisors LLC’s holdings in AT&T were worth $2,687,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the third quarter valued at about $25,000. YANKCOM Partnership bought a new position in AT&T during the fourth quarter valued at about $30,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of 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 worth $29,000 after acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T during the 4th quarter worth approximately $34,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $35,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on T shares. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Sanford C. Bernstein lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada upped their price objective on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

AT&T Stock Up 1.0 %

NYSE:T opened at $25.88 on Tuesday. The company has a market cap of $185.66 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock’s fifty day moving average price is $23.23 and its two-hundred day moving average price is $22.08. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $25.93.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, analysts anticipate that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.29%. AT&T’s dividend payout ratio is currently 74.50%.

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.