Wernau Asset Management Inc. Takes Position in AT&T Inc. (NYSE:T)

Wernau Asset Management Inc. purchased a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 125,281 shares of the technology company’s stock, valued at approximately $2,853,000. AT&T makes up approximately 2.1% of Wernau Asset Management Inc.’s holdings, making the stock its 7th biggest holding.

Several other large investors have also recently bought and sold shares of the business. Tradewinds Capital Management LLC lifted its position in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares in the last quarter. Wealthstream Advisors Inc. increased its stake in shares of AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after acquiring an additional 444 shares during the last quarter. Northeast Investment Management raised its holdings in shares of AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 451 shares in the last quarter. Chesapeake Wealth Management boosted its position in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. grew its stake in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price objective 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. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Scotiabank upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Price Performance

Shares of AT&T stock opened at $27.45 on Monday. 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 has a market cap of $197.01 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The firm has a fifty day moving average price of $23.91 and a two-hundred day moving average price of $22.58. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.49.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 4.04%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

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.