MinichMacGregor Wealth Management LLC Buys 17,068 Shares of AT&T Inc. (NYSE:T)

MinichMacGregor Wealth Management LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 169.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,123 shares of the technology company’s stock after purchasing an additional 17,068 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in AT&T were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Thrivent Financial for Lutherans grew its holdings in shares of AT&T by 4.7% during the second quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock valued at $9,080,000 after buying an additional 21,233 shares during the last quarter. Gabelli Funds LLC grew its stake in AT&T by 5.4% during the 2nd quarter. Gabelli Funds LLC now owns 350,900 shares of the technology company’s stock valued at $6,706,000 after purchasing an additional 18,000 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new position in shares of AT&T in the second quarter valued at about $203,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of AT&T by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,370,019 shares of the technology company’s stock worth $26,181,000 after purchasing an additional 513,484 shares during the last quarter. Finally, BlackBarn Capital Partners LP purchased a new position in shares of AT&T in the second quarter worth about $11,466,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.7 %

T opened at $22.34 on Thursday. The stock has a market capitalization of $160.30 billion, a PE ratio of 18.16, a P/E/G ratio of 3.53 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The business’s 50 day moving average price is $22.80 and its 200 day moving average price is $21.40.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 4.97%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on T shares. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. 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. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.