Ritholtz Wealth Management Has $3.90 Million Position in AT&T Inc. (NYSE:T)

Ritholtz Wealth Management boosted its holdings in AT&T Inc. (NYSE:T) by 99.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,144 shares of the technology company’s stock after purchasing an additional 85,200 shares during the quarter. Ritholtz Wealth Management’s holdings in AT&T were worth $3,897,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Carnegie Investment Counsel boosted its holdings in AT&T by 9.0% during the 4th quarter. Carnegie Investment Counsel now owns 12,025 shares of the technology company’s stock worth $274,000 after acquiring an additional 989 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in AT&T by 31.4% during the 4th quarter. Gateway Investment Advisers LLC now owns 2,078,118 shares of the technology company’s stock worth $47,319,000 after acquiring an additional 496,884 shares during the last quarter. IFS Advisors LLC boosted its holdings in AT&T by 286.6% during the 4th quarter. IFS Advisors LLC now owns 3,329 shares of the technology company’s stock worth $76,000 after acquiring an additional 2,468 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in AT&T during the 4th quarter worth $258,000. Finally, Smith Thornton Advisors LLC boosted its holdings in AT&T by 27.6% during the 4th quarter. Smith Thornton Advisors LLC now owns 67,557 shares of the technology company’s stock worth $1,538,000 after acquiring an additional 14,604 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.5 %

T stock opened at $22.02 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $157.96 billion, a PE ratio of 17.90, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The stock has a 50-day simple moving average of $22.79 and a two-hundred day simple moving average of $21.28.

AT&T (NYSE:T) last posted 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. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, equities analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on T shares. Oppenheimer started coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $22.00 to $26.00 in a report on Monday, January 6th. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, UBS Group lifted their target price 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 research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.