Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 22,229 Shares of AT&T Inc. (NYSE:T)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in AT&T Inc. (NYSE:T) by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,874 shares of the technology company’s stock after purchasing an additional 22,229 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in AT&T were worth $4,574,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in T. Legacy Investment Solutions LLC purchased a new stake in AT&T during the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T in the 4th quarter valued at approximately $34,000. Reston Wealth Management LLC purchased a new position in shares of AT&T in the 3rd quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $22.69 on Monday. The company has a market cap of $162.77 billion, a PE ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59. The firm’s 50 day moving average price is $22.80 and its 200-day moving average price is $21.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Ratings Changes

Several research analysts have commented on the stock. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Company Profile

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.