Denali Advisors LLC Has $8.09 Million Stock Position in AT&T Inc. (NYSE:T)

Denali Advisors LLC boosted its stake in AT&T Inc. (NYSE:T) by 360.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355,227 shares of the technology company’s stock after purchasing an additional 278,090 shares during the quarter. AT&T comprises 0.8% of Denali Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Denali Advisors LLC’s holdings in AT&T were worth $8,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Legacy Investment Solutions LLC bought a new position in shares of AT&T in the 3rd quarter valued at $25,000. Marshall Investment Management LLC acquired a new stake in AT&T in the fourth quarter valued at about $28,000. Ritter Daniher Financial Advisory LLC DE grew its position in 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 valued at $29,000 after acquiring an additional 841 shares during the last quarter. YANKCOM Partnership bought a new position in AT&T in the fourth quarter valued at about $30,000. Finally, Tradewinds Capital Management LLC raised its stake in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $26.65 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company’s 50-day moving average is $23.65 and its 200-day moving average is $22.43. The stock has a market capitalization of $191.26 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.16.

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 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%. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on T shares. DZ Bank upgraded shares of 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. UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Tigress Financial raised their price objective on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Oppenheimer assumed coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $26.33.

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.