Pineridge Advisors LLC Increases Position in AT&T Inc. (NYSE:T)

Pineridge Advisors LLC boosted its position in AT&T Inc. (NYSE:T) by 54.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,953 shares of the technology company’s stock after acquiring an additional 2,103 shares during the quarter. Pineridge Advisors LLC’s holdings in AT&T were worth $136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the 3rd quarter valued at $25,000. YANKCOM Partnership bought a new stake in AT&T in the fourth quarter valued at approximately $30,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of 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 purchasing an additional 841 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the fourth quarter worth approximately $34,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T in the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.3 %

Shares of AT&T stock opened at $24.86 on Tuesday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. 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 has a 50-day moving average of $23.04 and a 200 day moving average of $21.86. The firm has a market cap of $178.38 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 4.47%. AT&T’s dividend payout ratio is 74.50%.

Analyst Ratings Changes

T has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company lowered their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Oppenheimer initiated coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. Finally, Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $26.21.

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.