Allen Capital Group LLC Buys 1,253 Shares of AT&T Inc. (NYSE:T)

Allen Capital Group LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,896 shares of the technology company’s stock after acquiring an additional 1,253 shares during the quarter. Allen Capital Group LLC’s holdings in AT&T were worth $499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of T. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of AT&T by 169.2% during 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 purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the fourth quarter valued at about $34,000. Reston Wealth Management LLC bought a new position in shares of AT&T during the third quarter valued at about $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T during the third quarter valued at about $35,000. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on T. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays raised their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Price Performance

Shares of NYSE:T opened at $24.23 on Thursday. The company has a 50 day moving average of $22.86 and a 200 day moving average of $21.55. The stock has a market cap of $173.89 billion, a P/E ratio of 19.70, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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%. As a group, sell-side analysts forecast that AT&T Inc. will post 2.21 EPS 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 given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.58%. AT&T’s payout ratio is presently 90.24%.

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.