Cassaday & Co Wealth Management LLC Acquires 6,252 Shares of AT&T Inc. (NYSE:T)

Cassaday & Co Wealth Management LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 21.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,911 shares of the technology company’s stock after purchasing an additional 6,252 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in AT&T were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of AT&T during the 4th quarter worth $14,700,000. Swiss National Bank boosted its holdings in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. lifted its holdings in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp lifted its holdings in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after buying an additional 21,927 shares in the last quarter. Finally, Caprock Group LLC boosted its holdings in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of a number of research reports. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. UBS Group raised their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group increased their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

AT&T Stock Performance

NYSE:T opened at $26.18 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock’s fifty day moving average is $23.44 and its 200 day moving average is $22.23. The firm has a market capitalization of $187.95 billion, a PE ratio of 17.57, a PEG ratio of 3.01 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $26.35.

AT&T (NYSE:T) last issued its quarterly earnings results 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 return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.24%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.