Scarborough Advisors LLC Has $658,000 Stake in AT&T Inc. (NYSE:T)

Scarborough Advisors LLC increased its stake in AT&T Inc. (NYSE:T) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,914 shares of the technology company’s stock after purchasing an additional 2,755 shares during the period. Scarborough Advisors LLC’s holdings in AT&T were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Adell Harriman & Carpenter Inc. boosted its holdings in AT&T by 4.6% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 149,114 shares of the technology company’s stock worth $3,395,000 after purchasing an additional 6,491 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of AT&T by 18.8% in the 4th quarter. Blue Trust Inc. now owns 99,506 shares of the technology company’s stock valued at $2,266,000 after acquiring an additional 15,770 shares in the last quarter. Kanawha Capital Management LLC increased its position in shares of AT&T by 6.2% in the fourth quarter. Kanawha Capital Management LLC now owns 108,222 shares of the technology company’s stock valued at $2,464,000 after acquiring an additional 6,331 shares during the last quarter. Campbell Wealth Management bought a new stake in AT&T during the fourth quarter worth about $290,000. Finally, Asset Planning Inc acquired a new position in AT&T during the fourth quarter valued at approximately $232,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Evercore ISI lifted their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Scotiabank raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Price Performance

T stock opened at $25.88 on Friday. The company’s 50-day moving average price is $23.19 and its two-hundred day moving average price is $21.99. The firm has a market cap of $185.66 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59. 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 Inc. has a 12 month low of $15.94 and a 12 month high of $25.93.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS 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%. On average, analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.29%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

About AT&T

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.