Park Avenue Securities LLC Buys 102,259 Shares of AT&T Inc. (NYSE:T)

Park Avenue Securities LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 43.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 337,600 shares of the technology company's stock after buying an additional 102,259 shares during the period. Park Avenue Securities LLC's holdings in AT&T were worth $7,687,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during 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 acquiring an additional 841 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in AT&T in the third quarter valued at about $35,000. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd bought a new position in AT&T during the second quarter worth about $30,000. Institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.5 %

AT&T stock traded up $0.11 during mid-day trading on Thursday, hitting $22.02. The stock had a trading volume of 25,633,068 shares, compared to its average volume of 34,232,238. The stock has a 50-day simple moving average of $22.79 and a two-hundred day simple moving average of $21.28. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $157.96 billion, a PE ratio of 17.90, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the company posted $0.64 EPS. The company's revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Friday, January 10th. AT&T's dividend payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Barclays upped their price objective on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Argus raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a report on Thursday. New Street Research raised shares of AT&T from a "neutral" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.83.

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.