10,467 Shares in AT&T Inc. (NYSE:T) Purchased by Shira Ridge Wealth Management

Shira Ridge Wealth Management purchased a new position in AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,467 shares of the technology company’s stock, valued at approximately $238,000.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after buying an additional 3,630,972 shares during the last quarter. FMR LLC raised its holdings in shares of AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares in the last quarter. Legal & General Group Plc increased its holdings in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the period. Ameriprise Financial Inc. lifted its holdings in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Oppenheimer started coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Stock Performance

Shares of T stock opened at $21.56 on Tuesday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The stock has a market capitalization of $154.70 billion, a PE ratio of 17.53, 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 stock’s 50-day moving average price is $22.81 and its 200 day moving average price is $21.26.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. AT&T’s dividend payout ratio is currently 90.24%.

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.