MFG Wealth Management Inc. Takes $3.32 Million Position in AT&T Inc. (NYSE:T)

MFG Wealth Management Inc. bought a new stake in shares of AT&T Inc. (NYSE:T) during the 4th quarter, Holdings Channel reports. The fund bought 145,762 shares of the technology company’s stock, valued at approximately $3,319,000. AT&T makes up 3.0% of MFG Wealth Management Inc.’s portfolio, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter valued at $25,000. YANKCOM Partnership bought a new position in AT&T during the fourth quarter valued at approximately $30,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new stake in AT&T during the 4th quarter valued at $34,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays increased their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada boosted their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Price Performance

Shares of NYSE:T opened at $25.37 on Thursday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $25.38. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $182.04 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 2.79 and a beta of 0.59. The stock’s 50 day moving average price is $23.11 and its 200 day moving average price is $21.94.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.38%. 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.