Sovereign Financial Group Inc. Buys 1,606 Shares of AT&T Inc. (NYSE:T)

Sovereign Financial Group Inc. lifted its stake in shares of AT&T Inc. (NYSE:T) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,854 shares of the technology company’s stock after acquiring an additional 1,606 shares during the quarter. Sovereign Financial Group Inc.’s holdings in AT&T were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Quest Partners LLC boosted its position in shares of AT&T by 5,378.3% during the 2nd quarter. Quest Partners LLC now owns 3,780 shares of the technology company’s stock valued at $72,000 after purchasing an additional 3,711 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of AT&T by 32.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 19,491 shares of the technology company’s stock worth $372,000 after buying an additional 4,824 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of AT&T by 32.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 113,685 shares of the technology company’s stock worth $2,173,000 after buying an additional 27,970 shares during the period. Sierra Summit Advisors LLC increased its stake in shares of AT&T by 32.5% in the 2nd quarter. Sierra Summit Advisors LLC now owns 13,521 shares of the technology company’s stock valued at $258,000 after acquiring an additional 3,316 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of AT&T by 1,656.6% during the 2nd quarter. Wulff Hansen & CO. now owns 216,344 shares of the technology company’s stock valued at $4,134,000 after acquiring an additional 204,028 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

T opened at $21.80 on Wednesday. The firm has a 50-day moving average price of $22.80 and a 200-day moving average price of $21.28. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a market capitalization of $156.42 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Equities analysts expect that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.09%. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on T. UBS Group lifted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein initiated coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. Finally, Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.76.

AT&T Company 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.