Cedar Mountain Advisors LLC Buys 2,094 Shares of AT&T Inc. (NYSE:T)

Cedar Mountain Advisors LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 508.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,506 shares of the technology company’s stock after purchasing an additional 2,094 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in AT&T were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in AT&T during the second quarter valued at $44,000. APG Asset Management N.V. grew its position in shares of AT&T by 6.8% during the 2nd quarter. APG Asset Management N.V. now owns 4,621,726 shares of the technology company’s stock worth $82,408,000 after buying an additional 294,388 shares in the last quarter. Delta Investment Management LLC increased its position in AT&T by 19.3% during the 2nd quarter. Delta Investment Management LLC now owns 12,139 shares of the technology company’s stock valued at $232,000 after purchasing an additional 1,962 shares during the period. Daymark Wealth Partners LLC boosted its position in AT&T by 29.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 26,966 shares of the technology company’s stock valued at $515,000 after acquiring an additional 6,176 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new position in AT&T in the second quarter valued at about $9,836,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on T. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Oppenheimer began coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Finally, New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Price Performance

Shares of T stock opened at $22.69 on Friday. 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 12 month low of $15.94 and a 12 month high of $24.03. The firm has a market cap of $162.77 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. The stock has a 50-day moving average price of $22.80 and a 200 day moving average price of $21.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. Research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

AT&T Company 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.