Wetzel Investment Advisors Inc. Acquires Shares of 8,946 AT&T Inc. (NYSE:T)

Wetzel Investment Advisors Inc. bought a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,946 shares of the technology company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also modified their holdings of T. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the third quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% in the 3rd 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. Endeavor Private Wealth Inc. acquired a new position in AT&T in the 4th quarter valued at $34,000. Safe Harbor Fiduciary LLC bought a new position in AT&T during the 3rd quarter worth $35,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of AT&T during the third quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on T. 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 target on the stock. UBS Group lifted their price target 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. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Finally, The Goldman Sachs Group increased their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Price Performance

Shares of T opened at $24.12 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $173.05 billion, a PE ratio of 19.61, a PEG 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 $24.37. The business has a 50-day simple moving average of $22.80 and a two-hundred day simple moving average of $21.48.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.60%. AT&T’s dividend 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.