Walker Asset Management LLC Decreases Stake in AT&T Inc. (NYSE:T)

Walker Asset Management LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,018 shares of the technology company’s stock after selling 4,059 shares during the quarter. AT&T comprises 0.7% of Walker Asset Management LLC’s portfolio, making the stock its 29th biggest holding. Walker Asset Management LLC’s holdings in AT&T were worth $1,071,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in T. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in AT&T during the second quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T in the 3rd quarter worth approximately $35,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on T shares. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a 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 research note on Thursday, October 24th. Barclays upped their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Finally, Citigroup upped their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Price Performance

NYSE T opened at $22.30 on Friday. The company has a market cap of $159.97 billion, a PE ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The firm’s 50 day moving average price is $22.79 and its 200-day moving average price is $21.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

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.