Pitcairn Co. Grows Stock Holdings in AT&T Inc. (NYSE:T)

Pitcairn Co. grew its position in AT&T Inc. (NYSE:T) by 35.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 126,442 shares of the technology company’s stock after acquiring an additional 33,280 shares during the period. Pitcairn Co.’s holdings in AT&T were worth $2,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. raised its stake in shares of AT&T by 1.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after acquiring an additional 421 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the period. Whittier Trust Co. grew its position in shares of AT&T by 0.7% during the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after buying an additional 433 shares in the last quarter. Wealthstream Advisors Inc. increased its stake in shares of AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after buying an additional 444 shares during the period. Finally, Northeast Investment Management raised its holdings in AT&T by 0.9% in the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after acquiring an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.2 %

NYSE:T opened at $28.13 on Thursday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $28.61. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock’s 50 day simple moving average is $26.06 and its 200-day simple moving average is $23.67. The firm has a market cap of $201.92 billion, a P/E ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is presently 74.50%.

Analyst Ratings Changes

Several research firms have commented on T. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Sanford C. Bernstein upped their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Scotiabank raised their target price on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $27.21.

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.