Proficio Capital Partners LLC Acquires 525,914 Shares of AT&T Inc. (NYSE:T)

Proficio Capital Partners LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 2,552.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 546,517 shares of the technology company’s stock after buying an additional 525,914 shares during the period. Proficio Capital Partners LLC’s holdings in AT&T were worth $12,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its position in shares of AT&T by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,242,755 shares of the technology company’s stock worth $28,298,000 after acquiring an additional 60,520 shares during the last quarter. Kovack Advisors Inc. raised its holdings in AT&T by 9.5% during the 4th quarter. Kovack Advisors Inc. now owns 147,414 shares of the technology company’s stock worth $3,357,000 after purchasing an additional 12,779 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in AT&T by 2.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,824,300 shares of the technology company’s stock valued at $64,309,000 after purchasing an additional 58,600 shares during the period. Flynn Zito Capital Management LLC boosted its stake in shares of AT&T by 6.6% in the 4th quarter. Flynn Zito Capital Management LLC now owns 27,446 shares of the technology company’s stock valued at $625,000 after purchasing an additional 1,692 shares during the last quarter. Finally, New York Life Investment Management LLC grew its position in shares of AT&T by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 963,304 shares of the technology company’s stock worth $21,934,000 after buying an additional 8,144 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $27.45 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $197.01 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The stock’s 50-day moving average is $23.91 and its 200-day moving average is $22.56. AT&T Inc. has a one year low of $15.94 and a one year high of $27.49.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.04%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 74.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on T shares. 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. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein lifted their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada boosted their target price on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

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.