Cedar Mountain Advisors LLC Has $57,000 Stock Position in AT&T Inc. (NYSE:T)

Cedar Mountain Advisors LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 508.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,506 shares of the technology company’s stock after buying an additional 2,094 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in AT&T were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new position in AT&T in the 4th quarter valued at $34,000. Safe Harbor Fiduciary LLC bought a new position in AT&T during the 3rd quarter worth $35,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of AT&T during the third quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on T. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. The Goldman Sachs Group raised their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. UBS Group boosted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Up 0.7 %

T stock opened at $22.69 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The stock’s 50 day simple moving average is $22.80 and its 200 day simple moving average is $21.44. The company has a market cap of $162.77 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

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.