Muirfield Wealth Advisors LLC Purchases Shares of 11,877 AT&T Inc. (NYSE:T)

Muirfield Wealth Advisors LLC purchased a new stake in AT&T Inc. (NYSE:TFree Report) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 11,877 shares of the technology company’s stock, valued at approximately $199,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Checchi Capital Advisers LLC grew its holdings in AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after purchasing an additional 1,178 shares during the period. Financial Engines Advisors L.L.C. boosted its holdings in shares of AT&T by 50.6% in the third quarter. Financial Engines Advisors L.L.C. now owns 75,251 shares of the technology company’s stock valued at $1,130,000 after buying an additional 25,300 shares during the period. WCG Wealth Advisors LLC boosted its holdings in shares of AT&T by 200.3% in the third quarter. WCG Wealth Advisors LLC now owns 77,074 shares of the technology company’s stock valued at $1,174,000 after buying an additional 51,412 shares during the period. Prudential PLC boosted its holdings in shares of AT&T by 10.2% in the third quarter. Prudential PLC now owns 615,820 shares of the technology company’s stock valued at $9,250,000 after buying an additional 56,868 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in shares of AT&T by 11.4% in the third quarter. Rafferty Asset Management LLC now owns 532,583 shares of the technology company’s stock valued at $7,999,000 after buying an additional 54,537 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on T. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Scotiabank increased their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday, April 29th. Finally, StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.32.

Read Our Latest Report on AT&T

AT&T Price Performance

NYSE T remained flat at $17.64 on Monday. 17,174,906 shares of the company’s stock traded hands, compared to its average volume of 36,518,098. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The business has a 50 day simple moving average of $17.18 and a two-hundred day simple moving average of $17.06. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.45. The stock has a market capitalization of $126.48 billion, a P/E ratio of 9.45, a PEG ratio of 3.47 and a beta of 0.60.

AT&T (NYSE:TGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is 59.68%.

About AT&T

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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