AT&T Inc. (NYSE:T) Stake Boosted by First Bancorp Inc ME

First Bancorp Inc ME lifted its stake in AT&T Inc. (NYSE:T) by 7.9% during the fourth quarter, HoldingsChannel reports. The fund owned 32,893 shares of the technology company’s stock after purchasing an additional 2,397 shares during the quarter. First Bancorp Inc ME’s holdings in AT&T were worth $749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of T. Compass Wealth Management LLC increased its position in AT&T by 38.9% in the 4th quarter. Compass Wealth Management LLC now owns 5,395 shares of the technology company’s stock worth $123,000 after purchasing an additional 1,512 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of AT&T by 508.3% in the 4th quarter. Cedar Mountain Advisors LLC now owns 2,506 shares of the technology company’s stock valued at $57,000 after buying an additional 2,094 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in AT&T by 2.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 173,796 shares of the technology company’s stock worth $3,957,000 after buying an additional 4,831 shares during the last quarter. PCG Wealth Advisors LLC bought a new position in AT&T during the fourth quarter valued at approximately $301,000. Finally, Wheelhouse Advisory Group LLC lifted its stake in AT&T by 7.7% in the fourth quarter. Wheelhouse Advisory Group LLC now owns 24,231 shares of the technology company’s stock valued at $552,000 after acquiring an additional 1,741 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $22.69 on Friday. The stock’s 50 day simple moving average is $22.80 and its 200-day simple moving average is $21.44. 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 market cap of $162.77 billion, a PE ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. AT&T’s payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

T has been the topic of a number of recent research reports. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.