518,018 Shares in AT&T Inc. (NYSE:T) Acquired by Avanza Fonder AB

Avanza Fonder AB acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 518,018 shares of the technology company's stock, valued at approximately $11,795,000.

A number of other hedge funds also recently added to or reduced their stakes in T. Procyon Advisors LLC boosted its holdings in shares of AT&T by 89.2% in the fourth quarter. Procyon Advisors LLC now owns 67,045 shares of the technology company's stock valued at $1,527,000 after acquiring an additional 31,600 shares in the last quarter. Everpar Advisors LLC lifted its position in AT&T by 5.2% in the fourth quarter. Everpar Advisors LLC now owns 13,124 shares of the technology company's stock valued at $299,000 after purchasing an additional 650 shares during the period. Tompkins Financial Corp boosted its holdings in AT&T by 3.6% in the 4th quarter. Tompkins Financial Corp now owns 39,099 shares of the technology company's stock valued at $890,000 after purchasing an additional 1,376 shares in the last quarter. Goldstone Financial Group LLC increased its position in AT&T by 7.3% during the 4th quarter. Goldstone Financial Group LLC now owns 34,059 shares of the technology company's stock worth $776,000 after purchasing an additional 2,311 shares during the period. Finally, Channel Wealth LLC raised its stake in shares of AT&T by 7.6% during the 4th quarter. Channel Wealth LLC now owns 14,962 shares of the technology company's stock worth $341,000 after buying an additional 1,054 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 1.2 %

NYSE:T traded up $0.28 during trading hours on Friday, reaching $22.30. 33,632,193 shares of the company were exchanged, compared to its average volume of 34,178,129. The firm has a market cap of $159.97 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. The stock has a 50 day simple moving average of $22.79 and a 200 day simple moving average of $21.29. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T's payout ratio is 90.24%.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. New Street Research upgraded AT&T from a "neutral" rating to a "buy" rating in a research report on Tuesday, December 3rd. Morgan Stanley upgraded AT&T from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company cut their target price on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average target price of $25.83.

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.