Investor s Fiduciary Advisor Network LLC Takes $497,000 Position in AT&T Inc. (NYSE:T)

Investor s Fiduciary Advisor Network LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,845 shares of the technology company’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Consolidated Planning Corp boosted its holdings in shares of AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after buying an additional 21,927 shares during the last quarter. Keystone Financial Group raised its position in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after acquiring an additional 143,744 shares during the period. World Investment Advisors boosted its stake in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after acquiring an additional 63,359 shares during the last quarter. Fortress Financial Solutions LLC bought a new position in AT&T during the fourth quarter valued at $691,000. Finally, DigitalBridge Group Inc. increased its position in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after buying an additional 365,776 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research note on Thursday, February 13th. Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Wells Fargo & Company increased their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. TD Securities raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.71.

AT&T Trading Up 1.5%

NYSE T opened at $27.88 on Monday. The stock has a market cap of $200.61 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $29.03. The stock has a 50 day simple moving average of $27.15 and a two-hundred day simple moving average of $24.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

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.