AlphaStar Capital Management LLC Acquires 28,973 Shares of AT&T Inc. (NYSE:T)

AlphaStar Capital Management LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 50.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,748 shares of the technology company’s stock after purchasing an additional 28,973 shares during the quarter. AlphaStar Capital Management LLC’s holdings in AT&T were worth $1,975,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. YANKCOM Partnership bought a new stake in AT&T in the fourth quarter valued at about $30,000. Endeavor Private Wealth Inc. acquired a new position in AT&T in the fourth quarter worth about $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T during the third quarter valued at approximately $35,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 0.4 %

NYSE:T opened at $24.56 on Friday. The stock has a market cap of $176.19 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average price of $23.04 and a two-hundred day moving average price of $21.81. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts expect that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.52%. AT&T’s dividend payout ratio (DPR) is 74.50%.

Analysts Set New Price Targets

Several brokerages recently commented on T. Royal Bank of Canada boosted their price target on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

AT&T 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.