Fisher Funds Management LTD Makes New Investment in AT&T Inc. (NYSE:T)

Fisher Funds Management LTD purchased a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,025,923 shares of the technology company’s stock, valued at approximately $23,237,000.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in 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 worth $29,000 after buying an additional 841 shares in the last quarter. YANKCOM Partnership bought a new position in AT&T during the fourth quarter valued at about $30,000. Endeavor Private Wealth Inc. acquired a new position in AT&T in the 4th quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter worth approximately $35,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.9 %

Shares of NYSE:T opened at $26.64 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $191.19 billion, a P/E ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $26.72. The company’s 50-day moving average price is $23.50 and its two-hundred day moving average price is $22.30.

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, 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, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

Analysts Set New Price Targets

A number of brokerages recently commented on T. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Citigroup lifted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Scotiabank raised their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

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.