PCG Wealth Advisors LLC Makes New Investment in AT&T Inc. (NYSE:T)

PCG Wealth Advisors LLC acquired a new position in AT&T Inc. (NYSE:T) during the fourth quarter, Holdings Channel.com reports. The firm acquired 13,200 shares of the technology company’s stock, valued at approximately $301,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Chesapeake Wealth Management raised its stake in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. raised its stake in shares of AT&T by 2.8% in the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC raised its stake in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC raised its stake in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares in the last quarter. Finally, Essex Savings Bank grew its position in shares of AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on T. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Finally, UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Trading Up 0.7 %

AT&T stock opened at $22.69 on Friday. The firm has a 50 day simple moving average of $22.80 and a 200-day simple moving average of $21.41. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market capitalization 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 Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating 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 business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts expect that AT&T Inc. will post 2.21 EPS 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. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is presently 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.