Richmond Investment Services LLC Takes Position in AT&T Inc. (NYSE:T)

Richmond Investment Services LLC acquired a new stake in AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,873 shares of the technology company’s stock, valued at approximately $316,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. lifted its stake in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after purchasing an additional 421 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. BNP Paribas lifted its stake in AT&T by 1.0% during the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock worth $942,000 after purchasing an additional 430 shares during the last quarter. Whittier Trust Co. lifted its stake in AT&T by 0.7% during the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after purchasing an additional 433 shares during the last quarter. Finally, Wealthstream Advisors Inc. lifted its stake in AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after purchasing an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. TD Securities boosted their price objective on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, April 24th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, DZ Bank upgraded 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 Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Trading Up 0.8%

NYSE:T opened at $27.45 on Friday. The firm has a market cap of $197.50 billion, a P/E ratio of 18.42, a PEG ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock’s 50 day simple moving average is $27.30 and its 200-day simple moving average is $25.09. AT&T Inc. has a 12-month low of $17.11 and a 12-month high of $29.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the prior year, the company earned $0.55 EPS. The company’s revenue was up 2.0% on a year-over-year basis. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is presently 68.10%.

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.