Whitaker Myers Wealth Managers LTD. Invests $332,000 in AT&T Inc. (NYSE:T)

Whitaker Myers Wealth Managers LTD. acquired a new position in AT&T Inc. (NYSE:T) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 14,567 shares of the technology company’s stock, valued at approximately $332,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position 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 acquiring an additional 841 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in AT&T during the 2nd quarter valued at $30,000. Reston Wealth Management LLC bought a new stake in AT&T during the 3rd quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T during the 3rd quarter valued at $35,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 1.2 %

Shares of AT&T stock opened at $22.30 on Friday. The stock has a market cap of $159.97 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The stock’s 50 day simple moving average is $22.79 and its 200-day simple moving average is $21.31. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. Analysts predict that AT&T Inc. will post 2.2 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 given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

AT&T 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.