Foster & Motley Inc. Has $3.58 Million Stake in AT&T Inc. (NYSE:T)

Foster & Motley Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 8.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 157,208 shares of the technology company’s stock after purchasing an additional 11,937 shares during the period. Foster & Motley Inc.’s holdings in AT&T were worth $3,580,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position 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 valued at $29,000 after acquiring an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in AT&T in the fourth quarter valued at about $34,000. Safe Harbor Fiduciary LLC acquired a new position in AT&T in the third quarter worth about $35,000. Finally, Reston Wealth Management LLC bought a new position in AT&T during the third quarter worth about $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $24.23 on Thursday. The firm has a market cap of $173.89 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $22.86 and a 200 day moving average price of $21.55.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on T. JPMorgan Chase & Co. upped their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Argus 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 Thursday, January 16th. Finally, Sanford C. Bernstein boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T 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.