Mayflower Financial Advisors LLC Boosts Holdings in AT&T Inc. (NYSE:T)

Mayflower Financial Advisors LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,731 shares of the technology company’s stock after acquiring an additional 2,087 shares during the period. Mayflower Financial Advisors LLC’s holdings in AT&T were worth $882,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Chesapeake Wealth Management lifted its stake in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. lifted its position in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC grew its stake in AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares during the period. Garden State Investment Advisory Services LLC increased its position in shares of AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after acquiring an additional 468 shares in the last quarter. Finally, Essex Savings Bank raised its stake in shares of AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on T. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.06.

AT&T Stock Performance

Shares of T opened at $24.43 on Wednesday. The stock has a market capitalization of $175.26 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The business’s fifty day moving average price is $22.83 and its 200 day moving average price is $21.51. 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 $24.58.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Equities research analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 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.