Almanack Investment Partners LLC. Purchases Shares of 8,859 AT&T Inc. (NYSE:T)

Almanack Investment Partners LLC. acquired a new position in AT&T Inc. (NYSE:T) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 8,859 shares of the technology company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in AT&T in the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of AT&T by 169.2% in 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. YANKCOM Partnership purchased a new position in shares of AT&T in the fourth quarter worth $30,000. Endeavor Private Wealth Inc. bought a new stake in AT&T during the 4th quarter valued at $34,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T during the 3rd quarter valued at $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on T. Tigress Financial boosted their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, UBS Group upped their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $26.21.

AT&T Stock Up 0.4 %

T stock opened at $24.56 on Friday. The business has a 50 day moving average of $23.01 and a 200 day moving average of $21.77. The firm has a market cap of $176.19 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98. 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 results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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, research analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.52%. AT&T’s dividend payout ratio is presently 74.50%.

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.