Spartan Planning & Wealth Management Buys New Position in AT&T Inc. (NYSE:T)

Spartan Planning & Wealth Management purchased a new stake in AT&T Inc. (NYSE:T) during the 4th quarter, HoldingsChannel reports. The firm purchased 12,469 shares of the technology company’s stock, valued at approximately $284,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chesapeake Wealth Management raised its position in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares in the last quarter. Socha Financial Group LLC boosted its stake in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares during the period. Garden State Investment Advisory Services LLC boosted its stake in shares of AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after acquiring an additional 468 shares during the period. Essex Savings Bank increased its holdings in shares of AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares during the last quarter. Finally, Hayek Kallen Investment Management lifted its holdings in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $22.00 to $26.00 in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.76.

AT&T Price Performance

Shares of T stock traded down $0.10 on Tuesday, reaching $22.50. The company had a trading volume of 12,434,093 shares, compared to its average volume of 25,069,668. The stock has a market capitalization of $161.44 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 3.60 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. The business’s 50-day moving average is $22.83 and its 200 day moving average is $21.14. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings data 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 business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Equities research analysts forecast that AT&T Inc. will post 2.19 EPS 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. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.93%. AT&T’s payout ratio is presently 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.