Mission Wealth Management LP trimmed its stake in AT&T Inc. (NYSE:T) by 51.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,549 shares of the technology company’s stock after selling 41,625 shares during the period. Mission Wealth Management LP’s holdings in AT&T were worth $1,129,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. TCI Wealth Advisors Inc. lifted its holdings in shares of AT&T by 0.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 62,943 shares of the technology company’s stock worth $1,796,000 after buying an additional 330 shares in the last quarter. Legacy Advisors LLC lifted its holdings in shares of AT&T by 1.7% in the fourth quarter. Legacy Advisors LLC now owns 21,287 shares of the technology company’s stock worth $608,000 after buying an additional 363 shares in the last quarter. CNB Bank raised its stake in AT&T by 2.8% during the fourth quarter. CNB Bank now owns 13,628 shares of the technology company’s stock valued at $389,000 after purchasing an additional 366 shares in the last quarter. Butensky & Cohen Financial Security Inc. raised its stake in AT&T by 0.7% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 61,929 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 429 shares in the last quarter. Finally, Shelton Capital Management raised its stake in AT&T by 0.3% during the fourth quarter. Shelton Capital Management now owns 137,513 shares of the technology company’s stock valued at $3,925,000 after purchasing an additional 456 shares in the last quarter. 52.91% of the stock is owned by hedge funds and other institutional investors.
T stock traded up $0.53 on Friday, reaching $33.51. 40,758,867 shares of the company’s stock were exchanged, compared to its average volume of 26,106,586. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $240.69 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 2.06 and a beta of 0.55. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $34.30. The company has a fifty day moving average of $31.94.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.09%. AT&T’s payout ratio is currently 57.95%.
Several research analysts have issued reports on the stock. Desjardins reiterated an “average” rating and set a $56.50 target price on shares of AT&T in a report on Friday, April 5th. Bank of America reissued a “buy” rating and set a $37.00 price target on shares of AT&T in a research report on Monday, June 24th. ValuEngine raised shares of AT&T from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. AT&T presently has a consensus rating of “Hold” and an average target price of $36.31.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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