AT&T Inc. (NYSE:T) Shares Bought by Independent Wealth Network Inc.

Independent Wealth Network Inc. increased its stake in AT&T Inc. (NYSE:T) by 6.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,793 shares of the technology company’s stock after purchasing an additional 1,066 shares during the quarter. Independent Wealth Network Inc.’s holdings in AT&T were worth $405,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in AT&T in the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $35,000. Safe Harbor Fiduciary LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $35,000. Finally, Marquette Asset Management LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Oppenheimer assumed coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Citigroup lifted their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Finally, UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Down 0.7 %

NYSE T opened at $22.34 on Thursday. 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 stock’s 50 day moving average is $22.80 and its two-hundred day moving average is $21.40. The company has a market capitalization of $160.30 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.53 and a beta of 0.59. 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 earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. Equities analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.