OFI Invest Asset Management Invests $1.76 Million in AT&T Inc. (NYSE:T)

OFI Invest Asset Management bought a new position in AT&T Inc. (NYSE:T) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 79,810 shares of the technology company’s stock, valued at approximately $1,755,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $25,000. Marshall Investment Management LLC purchased a new position in AT&T in the fourth quarter worth $28,000. Tradewinds Capital Management LLC boosted its position in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. YANKCOM Partnership bought a new stake in shares of AT&T in the fourth quarter valued at $30,000. Finally, Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% in 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 buying an additional 841 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 29th. The Goldman Sachs Group increased their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Tigress Financial increased their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $26.74.

AT&T Stock Up 1.6 %

T stock opened at $27.15 on Monday. The business has a 50 day moving average of $24.30 and a 200 day moving average of $22.84. 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 $27.97. The firm has a market cap of $194.85 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.09%. AT&T’s dividend payout ratio (DPR) is currently 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.