Congress Park Capital LLC Invests $285,000 in AT&T Inc. (NYSE:T)

Congress Park Capital LLC acquired a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,500 shares of the technology company’s stock, valued at approximately $285,000.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter worth approximately $30,000. Reston Wealth Management LLC bought a new position in AT&T during the third quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $22.02 on Friday. The firm’s 50-day moving average is $22.79 and its 200-day moving average is $21.28. The company has a market cap of $157.96 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 3.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last issued its quarterly 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. 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 for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.04%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. The Goldman Sachs Group upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.