Silver Oak Securities Incorporated Purchases 6,984 Shares of AT&T Inc. (NYSE:T)

Silver Oak Securities Incorporated grew its position in AT&T Inc. (NYSE:T) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,869 shares of the technology company’s stock after acquiring an additional 6,984 shares during the period. Silver Oak Securities Incorporated’s holdings in AT&T were worth $1,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of T. Convergence Investment Partners LLC grew its holdings in AT&T by 37.1% during the 4th quarter. Convergence Investment Partners LLC now owns 138,144 shares of the technology company’s stock worth $2,318,000 after acquiring an additional 37,410 shares during the last quarter. Paradigm Financial Partners LLC grew its stake in shares of AT&T by 10.6% during the fourth quarter. Paradigm Financial Partners LLC now owns 65,866 shares of the technology company’s stock valued at $1,105,000 after purchasing an additional 6,338 shares during the last quarter. IVY Lane Capital Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $8,642,000. Opinicus Capital Inc. bought a new position in AT&T in the 4th quarter worth approximately $292,000. Finally, Consolidated Planning Corp lifted its holdings in AT&T by 33.8% during the 4th quarter. Consolidated Planning Corp now owns 14,504 shares of the technology company’s stock worth $243,000 after buying an additional 3,663 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Monday. Scotiabank raised their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Tigress Financial upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Up 0.8 %

NYSE T opened at $16.88 on Monday. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The business has a fifty day moving average price of $16.96 and a two-hundred day moving average price of $16.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The stock has a market capitalization of $120.74 billion, a PE ratio of 9.01, a PEG ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.58%. AT&T’s payout ratio is 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.