Newbridge Financial Services Group Inc. Raises Stock Position in AT&T Inc. (NYSE:T)

Newbridge Financial Services Group Inc. increased its holdings in shares of AT&T Inc. (NYSE:T) by 48.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,068 shares of the technology company’s stock after purchasing an additional 37,457 shares during the period. Newbridge Financial Services Group Inc.’s holdings in AT&T were worth $2,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB grew its stake in shares of AT&T by 305.1% in the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after buying an additional 1,161,152 shares in the last quarter. Ferguson Shapiro LLC boosted its holdings in AT&T by 108.2% in the 3rd quarter. Ferguson Shapiro LLC now owns 22,404 shares of the technology company’s stock worth $493,000 after acquiring an additional 11,643 shares during the period. Freestate Advisors LLC acquired a new stake in AT&T in the third quarter valued at approximately $408,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of AT&T during the third quarter valued at approximately $1,233,000. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of AT&T by 2.7% during the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 42,949 shares of the technology company’s stock worth $945,000 after purchasing an additional 1,126 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

T stock opened at $24.56 on Friday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The stock has a market capitalization of $176.19 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock’s fifty day moving average is $23.04 and its two-hundred day moving average is $21.81.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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%. On average, research analysts predict that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 74.50%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. Tigress Financial lifted their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group increased their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

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.