Sierra Ocean LLC Purchases Shares of 3,142 AT&T Inc. (NYSE:T)

Sierra Ocean LLC purchased a new stake in AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,142 shares of the technology company’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in AT&T in the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of 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 valued at $29,000 after acquiring an additional 841 shares during the last quarter. YANKCOM Partnership bought a new position in shares of AT&T during the fourth quarter valued at $30,000. Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the fourth quarter valued at $34,000. Finally, Reston Wealth Management LLC bought a new position in shares of AT&T during the third quarter valued at $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several analyst reports. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Evercore ISI raised their price target 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. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 29th. Tigress Financial raised their price target on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $26.33.

AT&T Price Performance

T opened at $25.88 on Tuesday. The company has a market capitalization of $185.66 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59. 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 firm has a 50-day moving average price of $23.23 and a 200-day moving average price of $22.08. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $25.93.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities analysts expect that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.29%. AT&T’s dividend payout ratio is currently 74.50%.

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.