Tower Bridge Advisors Purchases 507 Shares of AT&T Inc. (NYSE:T)

Tower Bridge Advisors raised its holdings in shares of AT&T Inc. (NYSE:T) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,632 shares of the technology company’s stock after buying an additional 507 shares during the period. Tower Bridge Advisors’ holdings in AT&T were worth $470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of T. Legacy Investment Solutions LLC purchased a new stake in AT&T in the 3rd quarter valued at about $25,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $28,000. Ritter Daniher Financial Advisory LLC DE grew its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares in the last quarter. YANKCOM Partnership bought a new position in AT&T in the fourth quarter worth approximately $30,000. Finally, Tradewinds Capital Management LLC increased its holdings in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several research reports. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Scotiabank raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T Stock Up 2.0 %

T stock opened at $27.45 on Friday. The stock has a market capitalization of $197.01 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.49. 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 has a 50 day moving average of $23.91 and a 200 day moving average of $22.54.

AT&T (NYSE:T) last posted its quarterly earnings results 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 net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared 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 4.04%. AT&T’s payout ratio is presently 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.