Williams & Novak LLC Invests $225,000 in AT&T Inc. (NYSE:T)

Williams & Novak LLC purchased a new stake in AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,862 shares of the technology company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in AT&T during the 2nd quarter worth approximately $44,000. Scientech Research LLC acquired a new position in shares of AT&T in the second quarter valued at approximately $219,000. Driehaus Capital Management LLC bought a new stake in shares of AT&T during the second quarter worth $237,000. NewEdge Advisors LLC lifted its position in AT&T by 7.2% in the 2nd quarter. NewEdge Advisors LLC now owns 473,303 shares of the technology company’s stock valued at $9,045,000 after acquiring an additional 31,661 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in AT&T by 2.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 700,577 shares of the technology company’s stock worth $13,388,000 after purchasing an additional 18,869 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Scotiabank raised their price target on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Finally, Barclays increased their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.06.

AT&T Price Performance

Shares of NYSE:T opened at $24.43 on Wednesday. AT&T Inc. has a one year low of $15.94 and a one year high of $24.58. 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 company has a market cap of $175.26 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.50 and a beta of 0.59. The firm has a 50 day simple moving average of $22.83 and a 200 day simple moving average of $21.51.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. Research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is presently 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.