AT&T Inc. (NYSE:T) Stake Lowered by Mattern Wealth Management LLC

Mattern Wealth Management LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,121 shares of the technology company’s stock after selling 1,630 shares during the period. Mattern Wealth Management LLC’s holdings in AT&T were worth $595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of 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 acquiring an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in AT&T in the 4th quarter worth approximately $34,000. Reston Wealth Management LLC bought a new stake in AT&T during the third quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in AT&T during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T opened at $24.12 on Tuesday. The firm’s 50 day simple moving average is $22.80 and its 200 day simple moving average is $21.48. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.37. The company has a market capitalization of $173.05 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last announced 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 net margin of 7.42% and a return on equity of 13.97%. As a group, sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on T shares. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, UBS Group upped their price target 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 issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.