Fortress Financial Solutions LLC Takes Position in AT&T Inc. (NYSE:T)

Fortress Financial Solutions LLC acquired a new position in AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,357 shares of the technology company’s stock, valued at approximately $691,000. AT&T makes up about 1.0% of Fortress Financial Solutions LLC’s holdings, making the stock its 22nd largest holding.

A number of other large investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position 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 valued at $29,000 after acquiring an additional 841 shares during the last quarter. YANKCOM Partnership purchased a new stake in AT&T during the fourth quarter valued at approximately $30,000. Endeavor Private Wealth Inc. acquired a new stake in AT&T in the fourth quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC purchased a new position in AT&T in the third quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of several analyst reports. Scotiabank increased their price objective on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. Oppenheimer assumed coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Royal Bank of Canada raised their price target on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Argus upgraded shares of 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. Finally, Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Price Performance

Shares of T opened at $25.16 on Wednesday. The business’s 50-day moving average is $23.09 and its two-hundred day moving average is $21.90. The company has a market capitalization of $180.50 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.79 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $25.18. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 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%. Research analysts predict that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.41%. AT&T’s payout ratio is 74.50%.

About AT&T

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.