Mendota Financial Group LLC Buys 2,642 Shares of AT&T Inc. (NYSE:T)

Mendota Financial Group LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 14,677.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,660 shares of the technology company’s stock after acquiring an additional 2,642 shares during the quarter. Mendota Financial Group LLC’s holdings in AT&T were worth $61,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of T. Graves Light Lenhart Wealth Inc. lifted its stake in AT&T by 8.6% during the fourth quarter. Graves Light Lenhart Wealth Inc. now owns 21,712 shares of the technology company’s stock worth $494,000 after purchasing an additional 1,711 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of AT&T by 30.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 6,632 shares of the technology company’s stock valued at $151,000 after purchasing an additional 1,567 shares during the last quarter. Shira Ridge Wealth Management acquired a new position in shares of AT&T during the 4th quarter worth $238,000. Marcum Wealth LLC boosted its stake in AT&T by 3.8% in the fourth quarter. Marcum Wealth LLC now owns 49,954 shares of the technology company’s stock valued at $1,137,000 after buying an additional 1,809 shares in the last quarter. Finally, Traveka Wealth LLC grew its position in AT&T by 7.7% in the fourth quarter. Traveka Wealth LLC now owns 10,610 shares of the technology company’s stock valued at $242,000 after acquiring an additional 754 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Citigroup raised their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.76.

AT&T Stock Performance

Shares of T opened at $21.56 on Tuesday. The stock has a 50-day moving average of $22.81 and a 200-day moving average of $21.26. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market cap of $154.70 billion, a PE ratio of 17.53, a P/E/G ratio of 3.60 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 firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 2.19 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. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.15%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

AT&T 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.