Howe & Rusling Inc. Purchases New Stake in AT&T Inc. (NYSE:T)

Howe & Rusling Inc. acquired a new stake in AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,675 shares of the technology company's stock, valued at approximately $243,000.

A number of other institutional investors have also modified their holdings of the company. NEOS Investment Management LLC increased its holdings in AT&T by 31.9% in the 4th quarter. NEOS Investment Management LLC now owns 442,279 shares of the technology company's stock valued at $10,071,000 after purchasing an additional 106,944 shares in the last quarter. Sava Infond d.o.o. purchased a new stake in shares of AT&T in the fourth quarter worth about $91,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AT&T by 8.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,400,762 shares of the technology company's stock worth $258,455,000 after buying an additional 930,271 shares during the period. Korea Investment CORP grew its stake in shares of AT&T by 17.5% in the fourth quarter. Korea Investment CORP now owns 5,369,334 shares of the technology company's stock valued at $122,260,000 after buying an additional 798,622 shares in the last quarter. Finally, Foundation Wealth Management LLC PA purchased a new stake in shares of AT&T during the 4th quarter valued at about $453,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.5 %

AT&T stock opened at $28.33 on Tuesday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $28.56. The firm's 50 day moving average price is $25.82 and its two-hundred day moving average price is $23.59. The firm has a market cap of $203.32 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

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AT&T (NYSE:T - Get Free Report) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, April 10th. AT&T's payout ratio is 74.50%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Sanford C. Bernstein raised their target price on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Barclays upped their target price on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Royal Bank of Canada raised their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. Finally, New Street Research upgraded shares of AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

AT&T 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.