Mattern Wealth Management LLC Has $595,000 Position in AT&T Inc. (NYSE:T)

Mattern Wealth Management LLC lessened its position in AT&T Inc. (NYSE:T) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,121 shares of the technology company’s stock after selling 1,630 shares during the quarter. Mattern Wealth Management LLC’s holdings in AT&T were worth $595,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T during the 4th quarter worth approximately $34,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at approximately $35,000. Finally, Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter valued at $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on T shares. UBS Group upped their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer began coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Performance

T opened at $24.12 on Tuesday. The firm has a market cap of $173.05 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The business’s fifty day moving average is $22.80 and its 200-day moving average is $21.48. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.37. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Sell-side 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. Shareholders 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 4.60%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is presently 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.