Venturi Wealth Management LLC Purchases 8,349 Shares of AT&T Inc. (NYSE:T)

Venturi Wealth Management LLC grew its position in AT&T Inc. (NYSE:T) by 55.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,387 shares of the technology company’s stock after acquiring an additional 8,349 shares during the period. Venturi Wealth Management LLC’s holdings in AT&T were worth $533,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Fortis Group Advisors LLC raised its stake in shares of AT&T by 131.6% in the fourth quarter. Fortis Group Advisors LLC now owns 118,016 shares of the technology company’s stock valued at $2,687,000 after acquiring an additional 67,053 shares during the last quarter. Pinnbrook Capital Management LP raised its position in AT&T by 115.9% in the 4th quarter. Pinnbrook Capital Management LP now owns 444,490 shares of the technology company’s stock worth $10,121,000 after purchasing an additional 238,580 shares during the last quarter. D.A. Davidson & CO. raised its position in AT&T by 3.6% in the 4th quarter. D.A. Davidson & CO. now owns 443,076 shares of the technology company’s stock worth $10,089,000 after purchasing an additional 15,438 shares during the last quarter. Empower Advisory Group LLC raised its position in AT&T by 1.2% in the 4th quarter. Empower Advisory Group LLC now owns 4,596,512 shares of the technology company’s stock worth $104,663,000 after purchasing an additional 53,587 shares during the last quarter. Finally, Truist Financial Corp raised its position in AT&T by 0.9% in the 4th quarter. Truist Financial Corp now owns 5,121,320 shares of the technology company’s stock worth $116,612,000 after purchasing an additional 46,892 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $26.23 on Thursday. The firm has a market cap of $188.28 billion, a PE ratio of 17.60, a PEG ratio of 2.96 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $26.35. The company has a fifty day moving average price of $23.38 and a 200 day moving average price of $22.20.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Research analysts predict that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.23%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Scotiabank boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 28th. Sanford C. Bernstein lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays lifted their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One investment 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.33.

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.