Centricity Wealth Management LLC Makes New Investment in AT&T Inc. (NYSE:T)

Centricity Wealth Management LLC bought a new position in AT&T Inc. (NYSE:T) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,033 shares of the technology company’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in 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 worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. FMR LLC lifted its holdings in shares of AT&T by 1.9% during the third 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 during the last quarter. Swiss National Bank boosted its position in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of AT&T by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock worth $399,467,000 after buying an additional 325,073 shares during the last quarter. Finally, National Pension Service increased its position in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after buying an additional 2,152,016 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $26.64 on Friday. The company has a 50-day moving average price of $23.50 and a 200-day moving average price of $22.28. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $26.72. 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 has a market capitalization of $191.19 billion, a P/E ratio of 17.88, a PEG ratio of 3.01 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. AT&T’s dividend payout ratio is currently 74.50%.

Analysts Set New Price Targets

T has been the topic of several analyst reports. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Scotiabank upped their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Sanford C. Bernstein increased their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $26.33.

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.