Cassaday & Co Wealth Management LLC Grows Position in AT&T Inc. (NYSE:T)

Cassaday & Co Wealth Management LLC raised its position in AT&T Inc. (NYSE:T) by 21.1% in the fourth quarter, Holdings Channel reports. The institutional investor 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 SEC.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter worth about $25,000. YANKCOM Partnership acquired a new position in AT&T in the 4th quarter valued at about $30,000. 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. Endeavor Private Wealth Inc. acquired a new position in shares of AT&T in the 4th quarter valued at $34,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on T shares. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. The Goldman Sachs Group increased their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Evercore ISI increased their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price target on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Scotiabank increased their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Trading Down 0.2 %

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

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

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