New Wave Wealth Advisors LLC Reduces Holdings in AT&T Inc. (NYSE:T)

New Wave Wealth Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 38,890 shares of the technology company’s stock after selling 1,418 shares during the period. New Wave Wealth Advisors LLC’s holdings in AT&T were worth $886,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in T. International Assets Investment Management LLC purchased a new position in shares of AT&T during the fourth quarter worth about $14,700,000. Swiss National Bank lifted its stake in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Franklin Resources Inc. boosted its holdings in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the period. Caprock Group LLC grew its position in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after acquiring an additional 30,281 shares during the last quarter. Finally, Talbot Financial LLC purchased a new position in AT&T in the 3rd quarter worth approximately $7,438,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Barclays boosted their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.11.

AT&T Price Performance

T opened at $24.04 on Friday. The firm has a market capitalization of $172.46 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. The business’s 50-day moving average is $22.91 and its two-hundred day moving average is $21.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Research analysts anticipate that AT&T Inc. will post 2.12 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, January 10th. 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.