518,018 Shares in AT&T Inc. (NYSE:T) Acquired by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, Holdings Channel reports. The firm purchased 518,018 shares of the technology company’s stock, valued at approximately $11,795,000.

A number of other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of 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 buying an additional 841 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter valued at $30,000. Reston Wealth Management LLC bought a new stake in AT&T in the 3rd quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T during the 3rd quarter valued at about $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on T shares. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $22.00 to $26.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Sanford C. Bernstein assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Price Performance

Shares of AT&T stock opened at $22.17 on Friday. The business has a 50 day simple moving average of $22.79 and a two-hundred day simple moving average of $21.28. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market capitalization of $159.10 billion, a P/E ratio of 17.99, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal 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 paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.01%. 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.