Journey Strategic Wealth LLC Reduces Stake in AT&T Inc. (NYSE:T)

Journey Strategic Wealth LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,036 shares of the technology company’s stock after selling 1,256 shares during the period. Journey Strategic Wealth LLC’s holdings in AT&T were worth $957,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of T. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew its stake in 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 buying an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in AT&T during the 4th quarter valued at $34,000. Reston Wealth Management LLC purchased a new stake in shares of AT&T during the third quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T during the third quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.2 %

Shares of NYSE:T opened at $23.74 on Friday. The firm has a market capitalization of $170.34 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.81 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.66. The stock has a 50 day moving average price of $22.92 and a 200-day moving average price of $21.62. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that AT&T Inc. will post 2.12 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.68%. AT&T’s payout ratio is presently 74.50%.

Analysts Set New Price Targets

Several equities analysts recently commented on T shares. Sanford C. Bernstein boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.11.

AT&T 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.