Allstate Corp Invests $4.81 Million in AT&T Inc. (NYSE:T)

Allstate Corp purchased a new stake in AT&T Inc. (NYSE:T - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 211,117 shares of the technology company's stock, valued at approximately $4,807,000.

Several other hedge funds also recently added to or reduced their stakes in T. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the third quarter worth $25,000. Marshall Investment Management LLC purchased a new stake in AT&T during the 4th quarter worth $28,000. YANKCOM Partnership acquired a new position in AT&T in the 4th quarter worth $30,000. Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after buying an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in AT&T in the 4th quarter valued at about $34,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T traded up $0.29 during trading on Tuesday, reaching $28.57. 18,884,148 shares of the company were exchanged, compared to its average volume of 41,733,977. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $28.56. 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 50 day moving average of $25.82 and a 200 day moving average of $23.59. The stock has a market cap of $205.05 billion, a P/E ratio of 19.18, a PEG ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.89%. AT&T's payout ratio is currently 74.50%.

Wall Street Analyst Weigh In

T has been the topic of a number of analyst reports. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They set an "outperform" rating and a $28.00 target price on the stock. New Street Research raised AT&T from a "neutral" rating to a "buy" rating in a research report on Tuesday, December 3rd. UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. BNP Paribas upgraded 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. Finally, Morgan Stanley upgraded shares of AT&T from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.00.

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.