MeadowBrook Investment Advisors LLC Invests $203,000 in AT&T Inc. (NYSE:T)

MeadowBrook Investment Advisors LLC acquired a new position in shares of AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,121 shares of the technology company’s stock, valued at approximately $203,000.

Other hedge funds also recently bought and sold shares of the company. Carmel Capital Partners LLC increased its stake in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the period. Lipe & Dalton purchased a new stake in AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T in the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC grew its stake in shares of AT&T by 588.2% in the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after acquiring an additional 2,241 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock traded up $0.14 during trading hours on Monday, hitting $16.99. 24,179,539 shares of the stock traded hands, compared to its average volume of 38,930,922. The stock has a market capitalization of $121.82 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 3.32 and a beta of 0.57. The firm’s 50 day moving average price is $16.97 and its 200-day moving average price is $16.67. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, equities analysts expect 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 issued a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.53%. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 5th. Citigroup increased their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Scotiabank raised their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Finally, TheStreet raised AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Profile

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.