Bourne Lent Asset Management Inc. Buys 499 Shares of AT&T Inc. (NYSE:T)

Bourne Lent Asset Management Inc. boosted its stake in shares of AT&T Inc. (NYSE:T) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,169 shares of the technology company’s stock after purchasing an additional 499 shares during the quarter. Bourne Lent Asset Management Inc.’s holdings in AT&T were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in T. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in AT&T in the third quarter worth about $35,000. Safe Harbor Fiduciary LLC acquired a new stake in AT&T in the third quarter worth about $35,000. Finally, Marquette Asset Management LLC acquired a new stake in AT&T in the third quarter worth about $36,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

AT&T stock opened at $22.49 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock has a market capitalization of $161.40 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The business has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $21.37.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 analysts’ expectations of $30.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 4.93%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Analyst Ratings Changes

Several brokerages have weighed in on T. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup raised their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.