HB Wealth Management LLC Has $21.93 Million Stake in AT&T Inc. (NYSE:T)

HB Wealth Management LLC grew its position in AT&T Inc. (NYSE:T) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 963,156 shares of the technology company’s stock after buying an additional 20,768 shares during the quarter. HB Wealth Management LLC’s holdings in AT&T were worth $21,931,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Legacy Investment Solutions LLC bought a new position in AT&T in the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of 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 worth $29,000 after purchasing an additional 841 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at $30,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T during the third quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T during the third quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock traded up $0.28 during trading on Friday, hitting $22.30. 33,632,584 shares of the stock traded hands, compared to its average volume of 28,784,102. The stock has a market cap 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 company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The firm’s fifty day moving average is $22.79 and its 200-day moving average is $21.29.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid 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 payout ratio is 90.24%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday. Barclays boosted their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.