Harbor Investment Advisory LLC Purchases 3,384 Shares of AT&T Inc. (NYSE:T)

Harbor Investment Advisory LLC raised its position in shares of AT&T Inc. (NYSE:T) by 24.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,124 shares of the technology company’s stock after buying an additional 3,384 shares during the period. Harbor Investment Advisory LLC’s holdings in AT&T were worth $390,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Chesapeake Wealth Management boosted its holdings in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC lifted its holdings in AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares during the period. Garden State Investment Advisory Services LLC grew its position in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares during the last quarter. Essex Savings Bank increased its stake in shares of AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares during the period. Finally, Hayek Kallen Investment Management raised its holdings in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on T. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, January 16th. Finally, Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Price Performance

Shares of NYSE T opened at $22.49 on Wednesday. The company has a 50 day moving average of $22.79 and a 200 day moving average of $21.37. 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 firm has a market cap of $161.40 billion, a P/E ratio of 18.29, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the firm posted $0.64 earnings per share. AT&T’s revenue was down .5% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.21 EPS 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. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. AT&T’s dividend payout ratio is presently 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.