Wheelhouse Advisory Group LLC Purchases 1,741 Shares of AT&T Inc. (NYSE:T)

Wheelhouse Advisory Group LLC lifted its holdings in AT&T Inc. (NYSE:T) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,231 shares of the technology company’s stock after purchasing an additional 1,741 shares during the quarter. AT&T accounts for approximately 0.3% of Wheelhouse Advisory Group LLC’s investment portfolio, making the stock its 26th largest position. Wheelhouse Advisory Group LLC’s holdings in AT&T were worth $552,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its position 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 valued at $29,000 after acquiring an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T in the fourth quarter valued at $34,000. Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $35,000. Finally, Reston Wealth Management LLC purchased a new position in shares of AT&T during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. 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. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Price Performance

Shares of NYSE:T opened at $22.69 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company’s 50 day moving average is $22.80 and its 200 day moving average is $21.41. The company has a market cap of $162.77 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s payout ratio is currently 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.