Wagner Wealth Management LLC Sells 2,094 Shares of AT&T Inc. (NYSE:T)

Wagner Wealth Management LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 126,549 shares of the technology company’s stock after selling 2,094 shares during the period. AT&T accounts for approximately 0.7% of Wagner Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. Wagner Wealth Management LLC’s holdings in AT&T were worth $2,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the last quarter. YANKCOM Partnership bought a new stake in AT&T in the 4th quarter valued at approximately $30,000. Endeavor Private Wealth Inc. acquired a new position in AT&T during the 4th quarter worth approximately $34,000. Finally, Reston Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter worth approximately $35,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of AT&T stock opened at $24.56 on Monday. The company has a 50-day simple moving average of $23.04 and a two-hundred day simple moving average of $21.84. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98. The stock has a market capitalization of $176.19 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts forecast that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is presently 74.50%.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. Scotiabank boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 28th. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.21.

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.