Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 22,229 Shares of AT&T Inc. (NYSE:T)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of AT&T Inc. (NYSE:T) by 12.4% in the fourth quarter, HoldingsChannel reports. The fund owned 200,874 shares of the technology company’s stock after purchasing an additional 22,229 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in AT&T were worth $4,574,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Chesapeake Wealth Management increased its holdings in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after acquiring an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the last quarter. Socha Financial Group LLC increased its stake in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC raised its holdings in shares of AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares during the last quarter. Finally, Essex Savings Bank lifted its stake in shares of AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.7 %

Shares of T opened at $22.69 on Monday. The firm has a market cap of $162.77 billion, a P/E ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock’s 50 day moving average is $22.80 and its two-hundred day moving average is $21.46. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 dividend on an annualized basis and a yield of 4.89%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer assumed coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. UBS Group increased their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.