Edge Capital Group LLC Makes New Investment in AT&T Inc. (NYSE:T)

Edge Capital Group LLC bought a new stake in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,967 shares of the technology company’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the third quarter worth approximately $25,000. Marshall Investment Management LLC bought a new position in AT&T in the fourth quarter worth approximately $28,000. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the last quarter. YANKCOM Partnership bought a new stake in shares of AT&T during the 4th quarter valued at $30,000. Finally, Ritter Daniher Financial Advisory LLC DE increased 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 worth $29,000 after purchasing an additional 841 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on T. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group increased their target price 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 raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Tigress Financial increased their price objective on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.33.

AT&T Stock Performance

NYSE:T opened at $26.74 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market cap of $191.91 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.13. The stock’s 50 day simple moving average is $23.58 and its two-hundred day simple moving average is $22.38.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared 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 dividend yield of 4.15%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 74.50%.

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.