Monterey Private Wealth Inc. Acquires New Position in AT&T Inc. (NYSE:T)

Monterey Private Wealth Inc. purchased a new stake in AT&T Inc. (NYSE:T) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 9,122 shares of the technology company’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new position in AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE raised 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 valued at $29,000 after buying an additional 841 shares during the period. Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new position in AT&T in the third quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T during the third quarter worth $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.2 %

T opened at $22.30 on Tuesday. The business’s 50-day simple moving average is $22.79 and its 200-day simple moving average is $21.37. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market cap of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. 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 company also recently declared 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. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on T shares. Sanford C. Bernstein initiated coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Barclays lifted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.