Goldstone Financial Group LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Goldstone Financial Group LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,059 shares of the technology company’s stock after purchasing an additional 2,311 shares during the period. Goldstone Financial Group LLC’s holdings in AT&T were worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of 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 acquiring an additional 841 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new position in shares of AT&T in the 3rd quarter valued at about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in AT&T in the third quarter worth about $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Sanford C. Bernstein began coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Price Performance

Shares of T opened at $22.02 on Friday. The company has a 50 day moving average of $22.79 and a two-hundred day moving average of $21.28. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a market cap of $157.96 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. As a group, analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.04%. 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.