Sovran Advisors LLC Takes $856,000 Position in AT&T Inc. (NYSE:T)

Sovran Advisors LLC purchased a new position in AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,264 shares of the technology company’s stock, valued at approximately $856,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the third quarter valued at approximately $25,000. YANKCOM Partnership purchased a new stake in AT&T during the 4th quarter valued at $30,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of 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 worth $29,000 after purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T in the 4th quarter worth $34,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T in the third quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $25.16 on Wednesday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $25.18. The firm’s fifty day simple moving average is $23.09 and its two-hundred day simple moving average is $21.90. 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 firm has a market capitalization of $180.50 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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%. Analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.41%. AT&T’s dividend payout ratio is presently 74.50%.

Wall Street Analysts Forecast Growth

T has been the subject of several research analyst reports. Sanford C. Bernstein lifted their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Tigress Financial increased their price objective 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. Evercore ISI lifted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

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.