Channel Wealth LLC Acquires 1,054 Shares of AT&T Inc. (NYSE:T)

Channel Wealth LLC lifted its holdings in AT&T Inc. (NYSE:T) by 7.6% in the fourth quarter, Holdings Channel reports. The fund owned 14,962 shares of the technology company’s stock after purchasing an additional 1,054 shares during the quarter. Channel Wealth LLC’s holdings in AT&T were worth $341,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in AT&T in the 2nd quarter worth about $30,000. Reston Wealth Management LLC bought a new stake in AT&T in the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T during the third quarter valued at approximately $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.5 %

NYSE:T opened at $22.02 on Friday. The company’s 50 day moving average is $22.79 and its two-hundred day moving average is $21.28. The company has a market cap of $157.96 billion, a PE ratio of 17.90, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. Analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

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.