Fort Washington Investment Advisors Inc. OH Increases Position in AT&T Inc. (NYSE:T)

Fort Washington Investment Advisors Inc. OH increased its stake in shares of AT&T Inc. (NYSE:T) by 11.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,096,289 shares of the technology company’s stock after acquiring an additional 319,835 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in AT&T were worth $70,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings 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 purchasing an additional 841 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in AT&T during the third quarter worth $35,000. Safe Harbor Fiduciary LLC acquired a new stake in AT&T in the third quarter valued at $35,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AT&T in the third quarter valued at $36,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

T opened at $22.49 on Wednesday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company’s 50 day simple moving average is $22.79 and its 200 day simple moving average is $21.37. The stock has a market capitalization of $161.40 billion, a PE ratio of 18.29, a P/E/G ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several equities research analysts recently commented on T shares. Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein initiated coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.83.

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.