Private Management Group Inc. Buys 1,042 Shares of AT&T Inc. (NYSE:T)

Private Management Group Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,802 shares of the technology company’s stock after purchasing an additional 1,042 shares during the period. Private Management Group Inc.’s holdings in AT&T were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of 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 valued at $29,000 after acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. bought a new position in AT&T in the 4th quarter worth approximately $34,000. Reston Wealth Management LLC bought a new position in AT&T in the 3rd quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Tigress Financial lifted their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup raised their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. Finally, Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Price Performance

AT&T stock opened at $24.46 on Friday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98. The company has a market cap of $175.47 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 2.71 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average is $22.99 and its 200 day moving average is $21.75.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Sell-side analysts forecast that AT&T Inc. will post 2.15 EPS 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 4.54%. 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.