Frontier Asset Management LLC Takes $252,000 Position in AT&T Inc. (NYSE:T)

Frontier Asset Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,067 shares of the technology company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC boosted its holdings in AT&T by 48.6% during 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. Wealthstream Advisors Inc. raised its position in AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after acquiring an additional 444 shares during the period. Northeast Investment Management raised its position in AT&T by 0.9% in the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 451 shares during the period. Chesapeake Wealth Management raised its position in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares during the period. Finally, Luts & Greenleigh Group Inc. raised its position in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after acquiring an additional 460 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of several research reports. Scotiabank lifted their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. Tigress Financial boosted their price target on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Sanford C. Bernstein boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Price Performance

NYSE:T opened at $27.15 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $194.85 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a 50 day moving average price of $24.30 and a 200-day moving average price of $22.82. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97.

AT&T (NYSE:T) last posted its quarterly 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%. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 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.