Sterling Investment Counsel LLC Raises Holdings in AT&T Inc. (NYSE:T)

Sterling Investment Counsel LLC boosted its stake in AT&T Inc. (NYSE:T) by 10.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,901 shares of the technology company’s stock after buying an additional 2,048 shares during the quarter. Sterling Investment Counsel LLC’s holdings in AT&T were worth $476,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $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 valued at $29,000 after acquiring an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in AT&T during the fourth quarter valued at about $34,000. Reston Wealth Management LLC acquired a new stake in AT&T during the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Sanford C. Bernstein initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Up 6.2 %

Shares of AT&T stock opened at $24.12 on Tuesday. The firm has a market cap of $173.05 billion, a P/E ratio of 19.61, a P/E/G ratio of 3.50 and a beta of 0.59. The business has a 50-day moving average price of $22.80 and a 200 day moving average price of $21.48. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.37.

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%. On average, sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

AT&T Company 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.