M.E. Allison & CO. Inc. Takes $1.14 Million Position in AT&T Inc. (NYSE:T)

M.E. Allison & CO. Inc. purchased a new stake in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 50,155 shares of the technology company’s stock, valued at approximately $1,142,000. AT&T makes up 1.2% of M.E. Allison & CO. Inc.’s investment portfolio, making the stock its 20th largest position.

A number of other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in AT&T during the third quarter valued at about $35,000. Reston Wealth Management LLC purchased a new stake in AT&T during the third quarter valued at about $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in AT&T during the second quarter valued at about $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $22.30 on Monday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The firm has a market cap of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. The company has a 50 day moving average of $22.79 and a 200 day moving average of $21.33. 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 (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. As a group, research analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Citigroup lifted their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

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.