Sagespring Wealth Partners LLC Takes $2.53 Million Position in AT&T Inc. (NYSE:T)

Sagespring Wealth Partners LLC acquired a new position in shares of AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,919 shares of the technology company’s stock, valued at approximately $2,526,000.

Other hedge funds have also bought and sold shares of the company. Optimize Financial Inc bought a new position in shares of AT&T during the 4th quarter worth approximately $1,059,000. Townsquare Capital LLC lifted its position in shares of AT&T by 39.2% during the 4th quarter. Townsquare Capital LLC now owns 761,239 shares of the technology company’s stock valued at $17,333,000 after acquiring an additional 214,529 shares during the period. Ceeto Capital Group LLC bought a new position in AT&T during the fourth quarter worth $187,000. Philadelphia Trust Co. grew its holdings in AT&T by 117.6% in the fourth quarter. Philadelphia Trust Co. now owns 348,999 shares of the technology company’s stock worth $7,947,000 after purchasing an additional 188,578 shares during the period. Finally, Oder Investment Management LLC acquired a new stake in AT&T in the fourth quarter worth $204,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.5 %

T stock opened at $26.79 on Friday. The stock has a market cap of $192.29 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock’s fifty day simple moving average is $26.59 and its two-hundred day simple moving average is $23.97. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $29.03.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. Analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.14%. AT&T’s payout ratio is currently 74.50%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on T shares. Tigress Financial increased their price objective on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Monday, April 7th. Royal Bank of Canada boosted their price objective on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Sanford C. Bernstein upped their target price on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.24.

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.