Princeton Global Asset Management LLC Purchases 5,792 Shares of AT&T Inc. (NYSE:T)


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Princeton Global Asset Management LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,367 shares of the technology company’s stock after purchasing an additional 5,792 shares during the period. Princeton Global Asset Management LLC’s holdings in AT&T were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. TAP Consulting LLC grew its holdings in shares of AT&T by 4.6% during the fourth quarter. TAP Consulting LLC now owns 8,008 shares of the technology company’s stock worth $230,000 after purchasing an additional 354 shares during the last quarter. Hohimer Wealth Management LLC grew its holdings in shares of AT&T by 0.3% during the fourth quarter. Hohimer Wealth Management LLC now owns 150,118 shares of the technology company’s stock worth $4,317,000 after purchasing an additional 378 shares during the last quarter. Pure Financial Advisors Inc. grew its holdings in shares of AT&T by 3.5% during the fourth quarter. Pure Financial Advisors Inc. now owns 11,273 shares of the technology company’s stock worth $324,000 after purchasing an additional 379 shares during the last quarter. Shine Investment Advisory Services Inc. grew its holdings in shares of AT&T by 13.2% during the third quarter. Shine Investment Advisory Services Inc. now owns 3,278 shares of the technology company’s stock worth $93,000 after purchasing an additional 382 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its holdings in shares of AT&T by 2.3% during the third quarter. Evermay Wealth Management LLC now owns 17,144 shares of the technology company’s stock worth $489,000 after purchasing an additional 386 shares during the last quarter. Institutional investors own 51.17% of the company’s stock.

T has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on AT&T from $32.00 to $30.00 in a report on Monday, October 26th. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Monday, January 4th. Morgan Stanley cut AT&T from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $36.00 to $34.00 in a report on Thursday, December 17th. CIBC reiterated a “buy” rating on shares of AT&T in a report on Wednesday, February 10th. Finally, Credit Suisse Group reduced their target price on AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.12.

NYSE T traded down $0.07 during trading hours on Tuesday, hitting $29.25. The company had a trading volume of 771,178 shares, compared to its average volume of 42,973,785. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $38.51. The firm has a 50 day simple moving average of $28.98 and a 200 day simple moving average of $28.89. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $208.44 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 3.04 and a beta of 0.70.

AT&T (NYSE:T) last issued its earnings results on Tuesday, January 26th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The business had revenue of $45.70 billion during the quarter, compared to the consensus estimate of $44.58 billion. During the same quarter last year, the company earned $0.89 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 3.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, February 1st. Shareholders of record on Monday, January 11th were paid a $0.52 dividend. The ex-dividend date was Friday, January 8th. This represents a $2.08 annualized dividend and a yield of 7.11%. AT&T’s dividend payout ratio is currently 58.26%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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