Forvis Mazars Wealth Advisors LLC Decreases Holdings in AT&T Inc. (NYSE:T)

Forvis Mazars Wealth Advisors LLC reduced its stake in AT&T Inc. (NYSE:T) by 2.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 38,010 shares of the technology company’s stock after selling 1,001 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in AT&T were worth $865,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Howard Capital Management Inc. increased its position in AT&T by 1.5% in the fourth quarter. Howard Capital Management Inc. now owns 267,518 shares of the technology company’s stock worth $6,091,000 after buying an additional 3,978 shares during the last quarter. WESPAC Advisors LLC grew its stake in AT&T by 12.4% in the 4th quarter. WESPAC Advisors LLC now owns 42,161 shares of the technology company’s stock valued at $960,000 after buying an additional 4,648 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of AT&T by 1.0% during the fourth quarter. Wealthspire Advisors LLC now owns 110,180 shares of the technology company’s stock worth $2,509,000 after acquiring an additional 1,130 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the period. Finally, Marshall Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at $28,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.9 %

Shares of NYSE:T opened at $26.64 on Monday. The stock’s 50-day moving average is $23.50 and its 200 day moving average is $22.32. The company has a market cap of $191.19 billion, a PE ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $26.72.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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 8.95%. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.17%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Wall Street Analysts Forecast Growth

T has been the subject of several analyst reports. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Scotiabank lifted their price target on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price objective 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, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

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.