Horizon Wealth Management LLC Grows Stock Position in AT&T Inc. (NYSE:T)

Horizon Wealth Management LLC raised its holdings in AT&T Inc. (NYSE:T) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,741 shares of the technology company’s stock after buying an additional 1,476 shares during the quarter. Horizon Wealth Management LLC’s holdings in AT&T were worth $905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of T. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the 2nd quarter valued at $30,000. Reston Wealth Management LLC acquired a new position in shares of AT&T during the 3rd quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in AT&T during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $25.76.

AT&T Stock Performance

Shares of AT&T stock traded down $0.13 during trading on Monday, hitting $21.56. 29,815,102 shares of the stock were exchanged, compared to its average volume of 33,206,676. The stock has a market cap of $154.70 billion, a PE ratio of 17.53, a P/E/G ratio of 3.60 and a beta of 0.59. The stock’s fifty day moving average is $22.81 and its 200 day moving average is $21.24. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) 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 return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

AT&T 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.