7,666 Shares in AT&T Inc. (NYSE:T) Bought by Pinney & Scofield Inc.

Pinney & Scofield Inc. acquired a new stake in AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,666 shares of the technology company’s stock, valued at approximately $175,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Daymark Wealth Partners LLC raised its stake in shares of AT&T by 4.6% during the fourth quarter. Daymark Wealth Partners LLC now owns 27,784 shares of the technology company’s stock valued at $633,000 after acquiring an additional 1,212 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of AT&T by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 2,254,967 shares of the technology company’s stock valued at $51,346,000 after acquiring an additional 22,342 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its stake in shares of AT&T by 58.1% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 39,670 shares of the technology company’s stock valued at $903,000 after acquiring an additional 14,584 shares during the last quarter. Red Door Wealth Management LLC raised its stake in shares of AT&T by 5.2% during the fourth quarter. Red Door Wealth Management LLC now owns 34,443 shares of the technology company’s stock valued at $784,000 after acquiring an additional 1,717 shares during the last quarter. Finally, Secure Asset Management LLC raised its stake in shares of AT&T by 10.0% during the fourth quarter. Secure Asset Management LLC now owns 44,599 shares of the technology company’s stock valued at $1,016,000 after acquiring an additional 4,060 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on T shares. Barclays upped their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Monday, April 7th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Royal Bank of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Oppenheimer increased their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Stock Up 0.8%

T opened at $27.45 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $17.11 and a 1-year high of $29.03. The company has a market capitalization of $197.50 billion, a PE ratio of 18.42, a PEG ratio of 3.00 and a beta of 0.42. The firm’s 50 day simple moving average is $27.30 and its two-hundred day simple moving average is $25.09.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.04%. AT&T’s payout ratio is 68.10%.

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.