Merriman Wealth Management LLC raised its stake in AT&T Inc. (NYSE:T) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,286 shares of the technology company’s stock after buying an additional 1,609 shares during the quarter. Merriman Wealth Management LLC’s holdings in AT&T were worth $793,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. JJJ Advisors Inc. purchased a new stake in shares of AT&T in the third quarter worth about $27,000. Bourgeon Capital Management LLC bought a new position in AT&T during the 3rd quarter valued at $45,000. Fulcrum Equity Management bought a new position in AT&T during the 3rd quarter valued at $51,000. Corbenic Partners LLC bought a new position in AT&T during the 4th quarter valued at $54,000. Finally, Candriam Luxembourg S.C.A. boosted its stake in AT&T by 13.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 1,385,144 shares of the technology company’s stock valued at $54,000 after purchasing an additional 160,409 shares in the last quarter. Institutional investors own 53.63% of the company’s stock.
A number of equities analysts have issued reports on the company. Raymond James reaffirmed a “buy” rating and set a $45.00 price target (up from $40.00) on shares of AT&T in a research note on Tuesday, October 29th. Tigress Financial reaffirmed a “buy” rating on shares of AT&T in a research note on Friday, January 3rd. Standpoint Research lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a research note on Monday, December 16th. Finally, Moffett Nathanson lowered AT&T from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $39.50.
AT&T (NYSE:T) last released its earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $44.59 billion during the quarter, compared to analyst estimates of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, analysts predict that AT&T Inc. will post 3.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.52 dividend. The ex-dividend date is Thursday, January 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.38%. This is a positive change from AT&T’s previous quarterly dividend of $0.51. AT&T’s dividend payout ratio is presently 59.09%.
AT&T Company 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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