Golden State Equity Partners Grows Position in AT&T Inc. (NYSE:T)

Golden State Equity Partners raised its stake in shares of AT&T Inc. (NYSE:T) by 184.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,344 shares of the technology company’s stock after purchasing an additional 48,240 shares during the period. Golden State Equity Partners’ holdings in AT&T were worth $1,693,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of T. Chesapeake Wealth Management raised its holdings in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares during the period. Luts & Greenleigh Group Inc. increased its position in shares of 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 in the last quarter. Socha Financial Group LLC raised its stake in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares during the period. Garden State Investment Advisory Services LLC lifted its holdings in shares of AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after acquiring an additional 468 shares in the last quarter. Finally, Essex Savings Bank boosted its position in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after purchasing an additional 480 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.2 %

AT&T stock opened at $23.74 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67. The stock has a market capitalization of $170.34 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. The firm has a 50 day simple moving average of $22.92 and a 200-day simple moving average of $21.64.

AT&T (NYSE:T) last released 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 return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts expect that AT&T Inc. will post 2.12 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 74.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. UBS Group upped their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein raised their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

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.