Armstrong Advisory Group Inc. Purchases 1,350 Shares of AT&T Inc. (NYSE:T)

Armstrong Advisory Group Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,182 shares of the technology company’s stock after purchasing an additional 1,350 shares during the period. Armstrong Advisory Group Inc.’s holdings in AT&T were worth $915,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CHURCHILL MANAGEMENT Corp raised its position in AT&T by 3.3% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 315,732 shares of the technology company’s stock worth $7,189,000 after purchasing an additional 9,948 shares in the last quarter. ARS Wealth Advisors Group LLC grew its stake in shares of AT&T by 4.1% in the 4th quarter. ARS Wealth Advisors Group LLC now owns 25,075 shares of the technology company’s stock valued at $571,000 after purchasing an additional 980 shares during the period. Burney Co. raised its holdings in shares of AT&T by 3.7% in the 4th quarter. Burney Co. now owns 39,043 shares of the technology company’s stock worth $889,000 after buying an additional 1,390 shares in the last quarter. Key Colony Management LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $228,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in AT&T by 19.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,276 shares of the technology company’s stock valued at $234,000 after buying an additional 1,666 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $21.90 on Thursday. The business’s 50-day simple moving average is $22.80 and its 200 day simple moving average is $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. The stock has a market cap of $157.14 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Sanford C. Bernstein initiated coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $25.76.

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.