Strategic Investment Advisors MI Buys Shares of 186,057 AT&T Inc. (NYSE:T)

Strategic Investment Advisors MI 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 186,057 shares of the technology company’s stock, valued at approximately $4,237,000.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the 3rd quarter worth $25,000. 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. Endeavor Private Wealth Inc. bought a new position in AT&T in the 4th quarter worth $34,000. Reston Wealth Management LLC bought a new position in AT&T in the 3rd quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T in the 3rd quarter worth $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.7 %

Shares of NYSE T opened at $22.69 on Monday. 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 company has a market cap of $162.77 billion, a P/E ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The firm has a 50-day simple moving average of $22.80 and a two-hundred day simple moving average of $21.46.

AT&T Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada raised shares of 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 report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Citigroup raised their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. 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 issued a strong buy rating to the stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus 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.