Richmond Investment Services LLC Buys Shares of 13,873 AT&T Inc. (NYSE:T)

Richmond Investment Services LLC acquired a new stake in AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 13,873 shares of the technology company's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daymark Wealth Partners LLC lifted its holdings in AT&T by 4.6% in the fourth quarter. Daymark Wealth Partners LLC now owns 27,784 shares of the technology company's stock valued at $633,000 after acquiring an additional 1,212 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of AT&T by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 2,254,967 shares of the technology company's stock worth $51,346,000 after buying an additional 22,342 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its stake in shares of AT&T by 58.1% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 39,670 shares of the technology company's stock worth $903,000 after buying an additional 14,584 shares during the last quarter. Red Door Wealth Management LLC raised its stake in shares of AT&T by 5.2% during the 4th quarter. Red Door Wealth Management LLC now owns 34,443 shares of the technology company's stock worth $784,000 after buying an additional 1,717 shares during the last quarter. Finally, Secure Asset Management LLC raised its stake in shares of AT&T by 10.0% during the 4th quarter. Secure Asset Management LLC now owns 44,599 shares of the technology company's stock worth $1,016,000 after buying an additional 4,060 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on T. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Monday, April 7th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective for the company in a research report on Thursday, February 13th. Barclays lifted their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $28.71.

AT&T Trading Up 0.8%

T stock traded up $0.22 during midday trading on Friday, reaching $27.45. 31,763,115 shares of the company's stock traded hands, compared to its average volume of 36,810,863. The company has a market capitalization of $197.50 billion, a P/E ratio of 18.42, a PEG ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $29.03. The business has a 50-day moving average price of $27.30 and a two-hundred day moving average price of $25.13.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.04%. AT&T's dividend payout ratio is currently 68.10%.

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.