Scarborough Advisors LLC Purchases 2,755 Shares of AT&T Inc. (NYSE:T)

Scarborough Advisors LLC grew its position in shares of AT&T Inc. (NYSE:T) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,914 shares of the technology company’s stock after purchasing an additional 2,755 shares during the period. Scarborough Advisors LLC’s holdings in AT&T were worth $658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new position in AT&T in the fourth quarter valued at $30,000. Endeavor Private Wealth Inc. bought a new stake in AT&T during the fourth quarter valued at $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T during the 3rd quarter worth about $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $25.88 on Friday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $25.93. The company’s 50 day moving average price is $23.19 and its two-hundred day moving average price is $21.99. The stock has a market cap of $185.66 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities analysts predict that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.29%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is 74.50%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on T shares. Wells Fargo & Company dropped their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Scotiabank increased their price target on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 28th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Sanford C. Bernstein increased their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.