AT&T Inc. (NYSE:T) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 43.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,600 shares of the technology company’s stock after acquiring an additional 102,259 shares during the quarter. Park Avenue Securities LLC’s holdings in AT&T were worth $7,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kathmere Capital Management LLC grew its stake in AT&T by 124.5% during the 4th quarter. Kathmere Capital Management LLC now owns 41,011 shares of the technology company’s stock valued at $934,000 after purchasing an additional 22,746 shares during the last quarter. San Luis Wealth Advisors LLC lifted its holdings in shares of AT&T by 5.7% during the fourth quarter. San Luis Wealth Advisors LLC now owns 49,496 shares of the technology company’s stock worth $1,127,000 after purchasing an additional 2,687 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in AT&T by 4.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 130,121 shares of the technology company’s stock valued at $2,963,000 after buying an additional 5,040 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in AT&T by 4.1% in the 4th quarter. SeaCrest Wealth Management LLC now owns 117,422 shares of the technology company’s stock worth $2,674,000 after buying an additional 4,663 shares during the period. Finally, Sovereign Financial Group Inc. raised its position in AT&T by 3.2% during the 4th quarter. Sovereign Financial Group Inc. now owns 51,854 shares of the technology company’s stock worth $1,181,000 after buying an additional 1,606 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Oppenheimer assumed coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Tigress Financial boosted their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.76.

AT&T Trading Up 0.5 %

Shares of AT&T stock opened at $21.90 on Thursday. The firm’s 50-day moving average price is $22.80 and its 200 day moving average price is $21.28. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The firm has a market capitalization of $157.14 billion, a PE ratio of 17.80, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 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.