Mendota Financial Group LLC Grows Position in AT&T Inc. (NYSE:T)

Mendota Financial Group LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 14,677.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,660 shares of the technology company’s stock after acquiring an additional 2,642 shares during the period. Mendota Financial Group LLC’s holdings in AT&T were worth $61,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chesapeake Wealth Management lifted its position in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after acquiring an additional 460 shares in the last quarter. Socha Financial Group LLC grew its holdings in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC raised its position in AT&T by 1.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after buying an additional 468 shares during the period. Essex Savings Bank boosted its position in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares during the period. Finally, Hayek Kallen Investment Management grew its stake in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

T opened at $21.56 on Tuesday. The firm has a market capitalization of $154.70 billion, a PE ratio of 17.53, a PEG ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The business’s 50-day simple moving average is $22.81 and its 200 day simple moving average is $21.26. 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 (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the business earned $0.64 EPS. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 annualized dividend and a yield of 5.15%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on T shares. Sanford C. Bernstein initiated coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.76.

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.