Stablepoint Partners LLC Increases Stake in AT&T Inc. (NYSE:T)

Stablepoint Partners LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,384 shares of the technology company’s stock after buying an additional 2,827 shares during the quarter. AT&T comprises about 1.1% of Stablepoint Partners LLC’s portfolio, making the stock its 22nd biggest holding. Stablepoint Partners LLC’s holdings in AT&T were worth $5,974,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of AT&T by 169.2% during 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 position in shares of AT&T during the 4th quarter valued at about $34,000. Reston Wealth Management LLC purchased a new stake in shares of AT&T in the third quarter valued at about $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T during the third quarter worth about $35,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $22.69 on Friday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock has a market capitalization of $162.77 billion, a PE ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $21.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.21 earnings per share 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. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. 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%.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Sanford C. Bernstein began coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AT&T has a consensus 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.