Naviter Wealth LLC Makes New Investment in AT&T Inc. (NYSE:T)

Naviter Wealth LLC bought a new stake in shares of AT&T Inc. (NYSE:T) in the 4th quarter, Holdings Channel reports. The firm bought 13,545 shares of the technology company’s stock, valued at approximately $308,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Rialto Wealth Management LLC bought a new position in AT&T in the 4th quarter worth about $78,000. Intellectus Partners LLC raised its holdings in AT&T by 5.4% in the fourth quarter. Intellectus Partners LLC now owns 14,634 shares of the technology company’s stock worth $333,000 after buying an additional 750 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of AT&T by 7.1% in the fourth quarter. Larson Financial Group LLC now owns 42,273 shares of the technology company’s stock worth $963,000 after buying an additional 2,792 shares in the last quarter. HM Payson & Co. grew its holdings in shares of AT&T by 4.4% during the fourth quarter. HM Payson & Co. now owns 20,825 shares of the technology company’s stock valued at $474,000 after buying an additional 882 shares during the last quarter. Finally, Blankinship & Foster LLC bought a new stake in shares of AT&T during the fourth quarter valued at approximately $413,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 1.6 %

T stock opened at $27.15 on Monday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The stock has a market capitalization of $194.85 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $24.30 and its two-hundred day simple moving average is $22.84.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is currently 74.50%.

Analyst Upgrades and Downgrades

Several analysts have commented on T shares. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 29th. UBS Group increased their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Barclays upped their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Citigroup lifted their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $26.74.

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.