MFG Wealth Management Inc. Takes $3.32 Million Position in AT&T Inc. (NYSE:T)

MFG Wealth Management Inc. purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 145,762 shares of the technology company's stock, valued at approximately $3,319,000. AT&T comprises 3.0% of MFG Wealth Management Inc.'s portfolio, making the stock its 6th biggest holding.

Other hedge funds have also modified their holdings of the company. AMF Tjanstepension AB increased its position in AT&T by 305.1% during the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company's stock worth $33,918,000 after buying an additional 1,161,152 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in AT&T during the third quarter worth $72,000. Creative Planning increased its position in AT&T by 2.8% during the third quarter. Creative Planning now owns 1,564,777 shares of the technology company's stock worth $34,413,000 after buying an additional 43,218 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in AT&T during the third quarter worth $257,000. Finally, Swedbank AB increased its position in AT&T by 7.1% during the third quarter. Swedbank AB now owns 3,299,715 shares of the technology company's stock worth $72,594,000 after buying an additional 219,382 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE T traded up $0.25 during trading on Friday, reaching $25.88. 31,683,390 shares of the company traded hands, compared to its average volume of 38,630,956. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock's 50 day moving average price is $23.23 and its two-hundred day moving average price is $22.06. The company has a market cap of $185.74 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $25.93.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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, analysts anticipate that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Friday, January 10th. AT&T's dividend payout ratio (DPR) is currently 74.50%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on T shares. BNP Paribas raised shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price on the stock in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Scotiabank upped their price target on shares of AT&T from $24.00 to $26.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 28th. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an "outperform" rating and a $28.00 price target for the company. Finally, Argus upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $26.33.

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.