Vident Advisory LLC Acquires 6,096 Shares of AT&T Inc. (NYSE:T)

Vident Advisory LLC raised its holdings in AT&T Inc. (NYSE:T) by 1.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 631,611 shares of the technology company’s stock after acquiring an additional 6,096 shares during the quarter. Vident Advisory LLC’s holdings in AT&T were worth $14,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of AT&T during the fourth quarter valued at about $258,000. Carnegie Investment Counsel boosted its position in shares of AT&T by 9.0% in the 4th quarter. Carnegie Investment Counsel now owns 12,025 shares of the technology company’s stock worth $274,000 after purchasing an additional 989 shares in the last quarter. Merit Financial Group LLC grew its stake in AT&T by 39.9% during the 4th quarter. Merit Financial Group LLC now owns 299,931 shares of the technology company’s stock worth $6,829,000 after buying an additional 85,482 shares during the last quarter. Sax Wealth Advisors LLC raised its stake in AT&T by 3.4% in the fourth quarter. Sax Wealth Advisors LLC now owns 35,312 shares of the technology company’s stock valued at $804,000 after buying an additional 1,176 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. boosted its holdings in AT&T by 21.1% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 98,620 shares of the technology company’s stock worth $2,246,000 after acquiring an additional 17,154 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Royal Bank of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Scotiabank reissued an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Evercore ISI raised their target price on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Finally, TD Securities lifted their price target on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Price Performance

Shares of AT&T stock opened at $27.72 on Monday. The firm has a market cap of $199.43 billion, a PE ratio of 18.60, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a twelve month low of $17.11 and a twelve month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $27.18 and a 200 day moving average price of $24.94.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is currently 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.