Philip James Wealth Mangement LLC Lowers Position in AT&T Inc. (NYSE:T)

Philip James Wealth Mangement LLC lessened its position in AT&T Inc. (NYSE:T) by 21.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,087 shares of the technology company’s stock after selling 2,720 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in AT&T were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in AT&T during the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% during the third 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 purchased a new position in AT&T during the fourth quarter valued at $30,000. Endeavor Private Wealth Inc. purchased a new position in AT&T during the fourth quarter valued at $34,000. Finally, Reston Wealth Management LLC purchased a new position in AT&T during the third quarter valued at $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on T. Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. 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. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $26.33.

AT&T Stock Performance

NYSE:T opened at $25.88 on Monday. The stock has a 50-day simple moving average of $23.23 and a two-hundred day simple moving average of $22.06. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $25.93. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market capitalization of $185.66 billion, a PE ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last released 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.29%. AT&T’s payout ratio is 74.50%.

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.