16,189 Shares in AT&T Inc. (NYSE:T) Bought by Arbor Wealth Advisors LLC

Arbor Wealth Advisors LLC bought a new position in AT&T Inc. (NYSE:T) during the fourth quarter, HoldingsChannel reports. The firm bought 16,189 shares of the technology company’s stock, valued at approximately $272,000.

Other large investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares in the last quarter. JB Capital LLC lifted its holdings in AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after acquiring an additional 614 shares during the period. Schubert & Co lifted its holdings in AT&T by 2.0% in the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after acquiring an additional 631 shares during the period. Roof Eidam Maycock Peralta LLC lifted its holdings in AT&T by 6.3% in the third quarter. Roof Eidam Maycock Peralta LLC now owns 11,226 shares of the technology company’s stock valued at $169,000 after acquiring an additional 666 shares during the period. Finally, MBM Wealth Consultants LLC lifted its holdings in AT&T by 4.5% in the fourth quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock valued at $270,000 after acquiring an additional 678 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on T shares. Wolfe Research raised 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. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the company from $18.00 to $21.00 in a report on Thursday, February 1st. TheStreet raised AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Barclays raised their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

AT&T Price Performance

Shares of NYSE:T traded up $0.20 during trading on Tuesday, hitting $16.51. 47,772,969 shares of the company’s stock were exchanged, compared to its average volume of 38,895,176. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The business’s 50-day simple moving average is $16.98 and its 200 day simple moving average is $16.54. The company has a market cap of $118.09 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last released its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.72%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 56.63%.

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.