Foundations Investment Advisors LLC Grows Stock Position in AT&T Inc. (NYSE:T)

Foundations Investment Advisors LLC raised its holdings in AT&T Inc. (NYSE:T) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 348,019 shares of the technology company’s stock after buying an additional 55,331 shares during the quarter. Foundations Investment Advisors LLC’s holdings in AT&T were worth $7,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in AT&T during the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew 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 acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in AT&T during the fourth quarter worth about $34,000. Reston Wealth Management LLC acquired a new stake in AT&T during the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T during the third quarter worth about $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $22.00 to $26.00 in a report on Monday, January 6th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Argus raised 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. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 5.7 %

T opened at $24.02 on Monday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.30. The stock has a market capitalization of $172.36 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business has a fifty day moving average price of $22.80 and a 200 day moving average price of $21.48.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. Sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

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.