Golden State Wealth Management LLC Buys Shares of 4,198 AT&T Inc. (NYSE:T)

Golden State Wealth Management LLC purchased a new position in AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,198 shares of the technology company’s stock, valued at approximately $96,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chesapeake Wealth Management increased its position in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the last quarter. Luts & Greenleigh Group Inc. grew its stake in shares of AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares during the period. Socha Financial Group LLC increased its holdings in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC raised its position in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares during the period. Finally, Essex Savings Bank boosted its holdings in AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on T shares. 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 report on Thursday, December 5th. Tigress Financial lifted their price target on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Citigroup boosted their price objective on shares of 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 cut their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Price Performance

Shares of T opened at $24.56 on Monday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market cap of $176.19 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59. The stock has a 50 day moving average of $23.04 and a 200-day moving average of $21.84.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS 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, analysts forecast that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

AT&T Company 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.