Frontier Asset Management LLC Acquires New Position in AT&T Inc. (NYSE:T)

Frontier Asset Management LLC purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,067 shares of the technology company's stock, valued at approximately $252,000.

A number of other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter worth approximately $25,000. Marshall Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter worth $28,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock worth $29,000 after acquiring an additional 841 shares in the last quarter. YANKCOM Partnership acquired a new stake in shares of AT&T in the fourth quarter worth $30,000. Finally, Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on T. Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an "outperform" rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.74.

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AT&T Price Performance

Shares of T stock traded up $0.42 during midday trading on Friday, reaching $27.15. 35,337,449 shares of the company were exchanged, compared to its average volume of 40,747,570. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The company has a market cap of $194.85 billion, a P/E ratio of 18.22, a PEG ratio of 3.00 and a beta of 0.56. The company's 50 day moving average price is $24.30 and its two-hundred day moving average price is $22.84. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (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 expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 4.09%. AT&T's dividend payout ratio is currently 74.50%.

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.