Naviter Wealth LLC Acquires New Stake in AT&T Inc. (NYSE:T)

Naviter Wealth LLC bought a new position in AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,545 shares of the technology company’s stock, valued at approximately $308,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter valued at $25,000. Marshall Investment Management LLC bought a new position in AT&T in the fourth quarter valued at $28,000. Tradewinds Capital Management LLC raised its position in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. YANKCOM Partnership bought a new stake in AT&T during the fourth quarter worth about $30,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in AT&T by 169.2% during the third 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 last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE:T opened at $27.15 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $24.30 and its 200 day simple moving average is $22.84. The stock has a market cap of $194.85 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

Analyst Ratings Changes

A number of brokerages recently weighed in on T. Sanford C. Bernstein raised their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $26.74.

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.