Resurgent Financial Advisors LLC Purchases New Holdings in AT&T Inc. (NYSE:T)

Resurgent Financial Advisors LLC bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,662 shares of the technology company's stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. increased its stake in shares of AT&T by 1.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock valued at $596,000 after buying an additional 421 shares during the period. Tradewinds Capital Management LLC increased its position 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 valued at $30,000 after acquiring an additional 430 shares during the period. Whittier Trust Co. raised its stake in shares of AT&T by 0.7% during the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company's stock valued at $1,352,000 after acquiring an additional 433 shares during the last quarter. Wealthstream Advisors Inc. raised its stake in shares of AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company's stock valued at $282,000 after acquiring an additional 444 shares during the last quarter. Finally, Northeast Investment Management grew its stake in shares of AT&T by 0.9% in the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company's stock worth $1,166,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 0.4 %

T stock traded up $0.10 during midday trading on Friday, reaching $27.12. 24,758,386 shares of the company's stock traded hands, compared to its average volume of 36,700,813. AT&T Inc. has a 52 week low of $16.17 and a 52 week high of $29.03. The company has a market cap of $194.67 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 3.00 and a beta of 0.42. The firm's fifty day moving average price is $26.84 and its 200-day moving average price is $24.14. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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%. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's dividend payout ratio (DPR) is presently 74.50%.

Analysts Set New Price Targets

T has been the subject of several analyst reports. Tigress Financial raised their target price on AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Oppenheimer raised their price objective on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Scotiabank increased their target price on shares of AT&T from $28.50 to $29.00 and gave the company a "sector outperform" rating in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada boosted 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.24.

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.