Concurrent Investment Advisors LLC Increases Holdings in AT&T Inc. (NYSE:T)

Concurrent Investment Advisors LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,047 shares of the technology company’s stock after buying an additional 470 shares during the period. Concurrent Investment Advisors LLC’s holdings in AT&T were worth $6,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at about $25,000. YANKCOM Partnership purchased a new stake in shares of AT&T in the 4th quarter valued at about $30,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% in the 3rd 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 during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T in the 4th quarter valued at about $34,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at about $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $26.23 on Thursday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $26.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock’s 50 day simple moving average is $23.38 and its 200 day simple moving average is $22.20. The stock has a market cap of $188.28 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.99 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is currently 74.50%.

Wall Street Analysts Forecast Growth

T has been the subject of several research reports. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a report on Thursday, February 13th. Scotiabank boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

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.