Advisory Services Network LLC Has $9.11 Million Stock Holdings in AT&T Inc. (NYSE:T)

Advisory Services Network LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,205 shares of the technology company’s stock after buying an additional 96,684 shares during the period. Advisory Services Network LLC’s holdings in AT&T were worth $9,113,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Marshall Investment Management LLC bought a new stake in shares of AT&T during the fourth quarter worth $28,000. YANKCOM Partnership bought a new position in AT&T in the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC increased its position in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the period. Endeavor Private Wealth Inc. bought a new stake in AT&T during the 4th quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. acquired a new position in AT&T during the 4th quarter valued at about $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.8 %

Shares of T stock opened at $26.34 on Wednesday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average of $26.39 and a 200-day moving average of $23.85. The company has a market capitalization of $189.04 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is presently 74.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. DZ Bank upgraded shares of 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. Scotiabank raised their price target on AT&T from $28.50 to $29.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.24.

About AT&T

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.