Adero Partners LLC Invests $231,000 in AT&T Inc. (NYSE:T)

Adero Partners LLC purchased a new position in AT&T Inc. (NYSE:T) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 10,135 shares of the technology company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also made changes to their positions in T. AMF Tjanstepension AB lifted its holdings in AT&T by 305.1% during the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock worth $33,918,000 after acquiring an additional 1,161,152 shares in the last quarter. CWM LLC lifted its holdings in AT&T by 2.9% during the third quarter. CWM LLC now owns 2,455,560 shares of the technology company’s stock worth $54,022,000 after acquiring an additional 69,306 shares in the last quarter. Wedmont Private Capital lifted its holdings in AT&T by 3.8% during the third quarter. Wedmont Private Capital now owns 67,949 shares of the technology company’s stock worth $1,480,000 after acquiring an additional 2,515 shares in the last quarter. Patten Group Inc. raised its stake in shares of AT&T by 4.2% in the 3rd quarter. Patten Group Inc. now owns 94,316 shares of the technology company’s stock valued at $2,075,000 after purchasing an additional 3,833 shares during the period. Finally, Somerset Trust Co raised its stake in shares of AT&T by 2.0% in the 3rd quarter. Somerset Trust Co now owns 54,223 shares of the technology company’s stock valued at $1,193,000 after purchasing an additional 1,081 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on T shares. UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Barclays lifted their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

AT&T Trading Down 0.1 %

Shares of NYSE:T opened at $24.46 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.98. The stock has a market cap of $175.47 billion, a PE ratio of 16.41, a P/E/G ratio of 2.71 and a beta of 0.59. The business has a 50 day moving average of $22.99 and a 200-day moving average of $21.75. 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 issued its quarterly earnings data 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 8.95%. As a group, equities research analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

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.