Capital Advisors Wealth Management LLC Boosts Stake in AT&T Inc. (NYSE:T)

Capital Advisors Wealth Management LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 12.8% during the fourth quarter, Holdings Channel reports. The fund owned 21,666 shares of the technology company’s stock after purchasing an additional 2,464 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in AT&T were worth $493,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Chesapeake Wealth Management boosted its stake 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 purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC boosted its position in AT&T by 2.5% in 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 grew its stake 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 worth $759,000 after buying an additional 468 shares during the last quarter. Essex Savings Bank raised its stake in shares of AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares during the last quarter. Finally, Hayek Kallen Investment Management grew its position 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 worth $1,326,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on T. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Price Performance

AT&T stock opened at $22.02 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $157.96 billion, a P/E ratio of 17.90, a PEG ratio of 3.46 and a beta of 0.59. The business has a 50-day moving average of $22.79 and a 200-day moving average of $21.28. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. On average, equities analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

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.