RFG Advisory LLC Raises Stock Position in AT&T Inc. (NYSE:T)

RFG Advisory LLC increased its position in shares of AT&T Inc. (NYSE:T) by 28.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,323 shares of the technology company’s stock after buying an additional 20,272 shares during the period. RFG Advisory LLC’s holdings in AT&T were worth $2,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T in the 4th quarter worth about $34,000. Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted 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. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Trading Up 0.7 %

AT&T stock opened at $22.69 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $22.80 and a two-hundred day moving average price of $21.41. The firm has a market capitalization 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 Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. Sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 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.