Lake Street Advisors Group LLC Acquires 1,685 Shares of AT&T Inc. (NYSE:T)

Lake Street Advisors Group LLC grew its holdings in AT&T Inc. (NYSE:T) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,247 shares of the technology company’s stock after acquiring an additional 1,685 shares during the quarter. Lake Street Advisors Group LLC’s holdings in AT&T were worth $1,713,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of T. Cavalier Investments LLC lifted its position in AT&T by 4.3% in the 4th quarter. Cavalier Investments LLC now owns 124,252 shares of the technology company’s stock valued at $2,829,000 after acquiring an additional 5,136 shares in the last quarter. Pinnacle West Asset Management Inc. raised its stake in shares of AT&T by 3.1% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 33,202 shares of the technology company’s stock valued at $756,000 after purchasing an additional 1,000 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of AT&T by 19.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 1,531,855 shares of the technology company’s stock valued at $34,880,000 after purchasing an additional 245,356 shares in the last quarter. Amalgamated Bank boosted its position in shares of AT&T by 1.8% during the fourth quarter. Amalgamated Bank now owns 1,450,430 shares of the technology company’s stock worth $33,026,000 after buying an additional 25,211 shares during the period. Finally, Vaughan David Investments LLC IL grew its holdings in shares of AT&T by 1.7% during the fourth quarter. Vaughan David Investments LLC IL now owns 2,034,727 shares of the technology company’s stock worth $46,331,000 after buying an additional 33,086 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on T. Oppenheimer began coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a research note on Thursday, February 13th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.33.

AT&T Stock Performance

Shares of T stock opened at $26.60 on Thursday. The company has a market capitalization of $190.90 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.00 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.16. The company has a 50-day simple moving average of $23.73 and a 200 day simple moving average of $22.46.

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, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 74.50%.

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.