Bragg Financial Advisors Inc Acquires 687 Shares of AT&T Inc. (NYSE:T)

Bragg Financial Advisors Inc raised its holdings in AT&T Inc. (NYSE:T) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,553 shares of the technology company’s stock after buying an additional 687 shares during the quarter. Bragg Financial Advisors Inc’s holdings in AT&T were worth $422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Marshall Investment Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $28,000. YANKCOM Partnership bought a new position in AT&T in the 4th quarter valued at $30,000. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares during the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T during the 4th quarter worth $34,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of AT&T in the 4th quarter worth about $35,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Royal Bank of Canada lifted their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. Sanford C. Bernstein boosted their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Scotiabank increased their price target on AT&T from $28.50 to $29.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.24.

AT&T Stock Performance

Shares of T opened at $27.22 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average price of $26.65 and a 200-day moving average price of $24.03. The company has a market cap of $195.39 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 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, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.08%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.