MBM Wealth Consultants LLC Purchases 867 Shares of AT&T Inc. (NYSE:T)

MBM Wealth Consultants LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,320 shares of the technology company’s stock after buying an additional 867 shares during the period. MBM Wealth Consultants LLC’s holdings in AT&T were worth $373,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% in the third 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 period. Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter valued at about $35,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $35,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AT&T during the 3rd quarter worth about $36,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on T shares. Sanford C. Bernstein started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Barclays increased their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.83.

AT&T Price Performance

Shares of NYSE:T opened at $22.49 on Wednesday. The firm has a 50 day simple moving average of $22.79 and a 200 day simple moving average of $21.37. The company has a market cap of $161.40 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one 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 released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 yield of 4.93%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

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.