Twelve Points Wealth Management LLC Lowers Stock Position in AT&T Inc. (NYSE:T)

Twelve Points Wealth Management LLC reduced its position in AT&T Inc. (NYSE:T) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,629 shares of the technology company’s stock after selling 501 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in AT&T were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gateway Wealth Partners LLC grew its stake in AT&T by 18.7% during the fourth quarter. Gateway Wealth Partners LLC now owns 17,653 shares of the technology company’s stock worth $402,000 after buying an additional 2,784 shares during the period. Williams & Novak LLC acquired a new stake in AT&T in the 4th quarter valued at $225,000. Mayflower Financial Advisors LLC raised its position in AT&T by 5.7% in the fourth quarter. Mayflower Financial Advisors LLC now owns 38,731 shares of the technology company’s stock valued at $882,000 after purchasing an additional 2,087 shares during the period. Orca Wealth Management LLC acquired a new position in shares of AT&T during the fourth quarter worth about $732,000. Finally, BSW Wealth Partners boosted its position in shares of AT&T by 16.5% in the fourth quarter. BSW Wealth Partners now owns 37,755 shares of the technology company’s stock worth $860,000 after buying an additional 5,340 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on T. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Royal Bank of Canada boosted their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Scotiabank raised their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Trading Down 0.7 %

AT&T stock opened at $24.23 on Thursday. The firm has a 50-day moving average price of $22.86 and a two-hundred day moving average price of $21.55. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98. The firm has a market capitalization of $173.89 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 3.50 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.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. Sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.58%. AT&T’s dividend payout ratio is presently 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.