Leigh Baldwin & CO. LLC Purchases Shares of 248,155 AT&T Inc. (NYSE:T)

Leigh Baldwin & CO. LLC purchased a new position in AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 248,155 shares of the technology company’s stock, valued at approximately $565,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Marshall Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at $28,000. Tradewinds Capital Management LLC grew its position in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the last quarter. YANKCOM Partnership purchased a new position in AT&T in the 4th quarter worth about $30,000. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T during the fourth quarter valued at approximately $34,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of AT&T in the 4th quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $27.88 on Monday. The firm has a fifty day simple moving average of $27.15 and a 200-day simple moving average of $24.77. The company has a market capitalization of $200.61 billion, a PE ratio of 18.71, a price-to-earnings-growth 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 current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the prior year, the business earned $0.55 earnings per share. AT&T’s revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.98%. AT&T’s payout ratio is 68.10%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Monday, April 7th. Morgan Stanley reissued an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Barclays raised their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

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.