Perigon Wealth Management LLC Acquires 14,756 Shares of AT&T Inc. (NYSE:T)

Perigon Wealth Management LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,420 shares of the technology company’s stock after purchasing an additional 14,756 shares during the period. Perigon Wealth Management LLC’s holdings in AT&T were worth $2,696,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted 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 acquiring an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in AT&T in the 4th quarter valued at approximately $34,000. Reston Wealth Management LLC bought a new stake in AT&T in the 3rd quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T in the 3rd quarter valued at approximately $35,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on T. Scotiabank boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, January 16th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Barclays upped their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $26.11.

AT&T Stock Performance

Shares of NYSE T opened at $24.23 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock’s fifty day moving average price is $22.86 and its two-hundred day moving average price is $21.55. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98. The firm has a market cap of $173.89 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. On average, equities analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is 90.24%.

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.