Cassia Capital Partners LLC Raises Stake in AT&T Inc. (NYSE:T)

Cassia Capital Partners LLC increased its stake in AT&T Inc. (NYSE:T) by 19.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,377 shares of the technology company’s stock after buying an additional 7,687 shares during the period. AT&T accounts for about 0.7% of Cassia Capital Partners LLC’s portfolio, making the stock its 26th largest position. Cassia Capital Partners LLC’s holdings in AT&T were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new position in AT&T during the fourth quarter valued at approximately $34,000. Reston Wealth Management LLC bought a new position in AT&T in the third quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T in the third quarter worth approximately $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.0 %

T stock opened at $24.26 on Wednesday. The stock has a market capitalization of $174.05 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. The firm has a 50-day simple moving average of $22.94 and a 200-day simple moving average of $21.70. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.58%. AT&T’s dividend payout ratio is presently 74.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on T shares. Tigress Financial raised their price target on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada upped their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.21.

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.