Strategic Financial Concepts LLC Makes New $757,000 Investment in AT&T Inc. (NYSE:T)

Strategic Financial Concepts LLC bought a new position in AT&T Inc. (NYSE:T) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 33,260 shares of the technology company’s stock, valued at approximately $757,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Allworth Financial LP raised its stake in AT&T by 0.8% in the fourth quarter. Allworth Financial LP now owns 1,423,917 shares of the technology company’s stock valued at $31,782,000 after purchasing an additional 11,113 shares in the last quarter. Principal Securities Inc. raised its stake in AT&T by 12.9% in the fourth quarter. Principal Securities Inc. now owns 133,688 shares of the technology company’s stock valued at $3,044,000 after purchasing an additional 15,309 shares in the last quarter. bLong Financial LLC purchased a new position in AT&T in the fourth quarter worth $375,000. Everhart Financial Group Inc. grew its position in AT&T by 5.4% in the fourth quarter. Everhart Financial Group Inc. now owns 49,864 shares of the technology company’s stock worth $1,135,000 after acquiring an additional 2,551 shares in the last quarter. Finally, Roxbury Financial LLC purchased a new position in AT&T in the fourth quarter worth $38,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on T shares. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. 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. Royal Bank of Canada raised their price objective on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup upped their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.33.

AT&T Stock Up 0.6 %

Shares of AT&T stock opened at $26.23 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $23.38 and its two-hundred day simple moving average is $22.20. The company has a market cap of $188.28 billion, a P/E ratio of 17.60, a PEG ratio of 2.96 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $26.35.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Research analysts anticipate that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The business 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 of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.23%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.