M.E. Allison & CO. Inc. Buys Shares of 50,155 AT&T Inc. (NYSE:T)

M.E. Allison & CO. Inc. purchased a new stake in AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 50,155 shares of the technology company’s stock, valued at approximately $1,142,000. AT&T makes up approximately 1.2% of M.E. Allison & CO. Inc.’s investment portfolio, making the stock its 20th largest holding.

Other institutional investors also recently modified their holdings of the company. Willner & Heller LLC raised its holdings in AT&T by 2.2% during the fourth quarter. Willner & Heller LLC now owns 24,798 shares of the technology company’s stock worth $565,000 after acquiring an additional 540 shares in the last quarter. Diversify Advisory Services LLC raised its stake in AT&T by 1.5% in the fourth quarter. Diversify Advisory Services LLC now owns 67,656 shares of the technology company’s stock valued at $1,467,000 after buying an additional 974 shares during the period. Diversify Wealth Management LLC raised its stake in AT&T by 16.1% in the fourth quarter. Diversify Wealth Management LLC now owns 21,155 shares of the technology company’s stock valued at $459,000 after buying an additional 2,936 shares during the period. Successful Portfolios LLC raised its stake in AT&T by 2.7% in the fourth quarter. Successful Portfolios LLC now owns 19,544 shares of the technology company’s stock valued at $445,000 after buying an additional 515 shares during the period. Finally, Annex Advisory Services LLC raised its stake in AT&T by 5.4% in the fourth quarter. Annex Advisory Services LLC now owns 16,912 shares of the technology company’s stock valued at $385,000 after buying an additional 859 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

T stock opened at $22.30 on Monday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The business has a 50-day simple moving average of $22.79 and a two-hundred day simple moving average of $21.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Upgrades and Downgrades

T has been the topic of several research analyst reports. UBS Group upped their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upped their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. Finally, Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

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.