LongView Wealth Management Has $896,000 Stake in AT&T Inc. (NYSE:T)

LongView Wealth Management cut its holdings in shares of AT&T Inc. (NYSE:T) by 4.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,351 shares of the technology company’s stock after selling 1,722 shares during the period. LongView Wealth Management’s holdings in AT&T were worth $896,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group increased its position in AT&T by 2.8% during the fourth quarter. Brooklyn Investment Group now owns 55,522 shares of the technology company’s stock worth $1,264,000 after buying an additional 1,513 shares during the last quarter. Albert D Mason Inc. increased its holdings in shares of AT&T by 5.2% during the 4th quarter. Albert D Mason Inc. now owns 35,484 shares of the technology company’s stock worth $808,000 after acquiring an additional 1,747 shares during the last quarter. Sax Wealth Advisors LLC raised its stake in AT&T by 3.4% in the 4th quarter. Sax Wealth Advisors LLC now owns 35,312 shares of the technology company’s stock valued at $804,000 after acquiring an additional 1,176 shares during the period. Somerset Trust Co lifted its holdings in AT&T by 5.8% during the 4th quarter. Somerset Trust Co now owns 57,350 shares of the technology company’s stock valued at $1,306,000 after purchasing an additional 3,127 shares during the last quarter. Finally, Merit Financial Group LLC boosted its position in AT&T by 39.9% during the fourth quarter. Merit Financial Group LLC now owns 299,931 shares of the technology company’s stock worth $6,829,000 after purchasing an additional 85,482 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on T. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein began coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Trading Up 1.2 %

NYSE T opened at $22.30 on Friday. The stock has a market capitalization of $159.97 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. The business’s fifty day moving average is $22.79 and its 200-day moving average is $21.29. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.