Pineridge Advisors LLC Acquires 2,103 Shares of AT&T Inc. (NYSE:T)

Pineridge Advisors LLC increased its stake in AT&T Inc. (NYSE:T) by 54.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,953 shares of the technology company’s stock after purchasing an additional 2,103 shares during the quarter. Pineridge Advisors LLC’s holdings in AT&T were worth $136,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of T. AMF Tjanstepension AB raised its position in shares of AT&T by 305.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after purchasing an additional 1,161,152 shares during the period. Ritholtz Wealth Management increased its stake in AT&T by 33.7% in the 3rd quarter. Ritholtz Wealth Management now owns 85,944 shares of the technology company’s stock worth $1,891,000 after buying an additional 21,652 shares in the last quarter. Mechanics Bank Trust Department bought a new stake in AT&T during the third quarter valued at about $210,000. Annex Advisory Services LLC lifted its position in shares of AT&T by 10.7% in the third quarter. Annex Advisory Services LLC now owns 16,053 shares of the technology company’s stock valued at $353,000 after acquiring an additional 1,557 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of AT&T by 21.2% in the third quarter. Redhawk Wealth Advisors Inc. now owns 30,358 shares of the technology company’s stock worth $668,000 after acquiring an additional 5,320 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the topic of several recent analyst reports. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

AT&T Trading Up 1.3 %

T stock opened at $24.86 on Tuesday. The firm’s fifty day simple moving average is $23.04 and its two-hundred day simple moving average is $21.86. The stock has a market capitalization of $178.38 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

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.