Strategic Investment Advisors MI Invests $4.24 Million in AT&T Inc. (NYSE:T)

Strategic Investment Advisors MI acquired a new position in AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 186,057 shares of the technology company’s stock, valued at approximately $4,237,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $14,700,000. Swiss National Bank grew its holdings in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. grew its holdings in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. Caprock Group LLC grew its holdings in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. Finally, Talbot Financial LLC bought a new position in AT&T during the third quarter valued at $7,438,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of several research reports. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Sanford C. Bernstein initiated coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Performance

AT&T stock opened at $22.69 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock’s 50 day simple moving average is $22.80 and its two-hundred day simple moving average is $21.46. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The stock has a market cap of $162.77 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio is currently 90.24%.

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.