Cornerstone Wealth Management LLC Grows Stock Holdings in AT&T Inc. (NYSE:T)

Cornerstone Wealth Management LLC lifted its position in AT&T Inc. (NYSE:T) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 166,697 shares of the technology company’s stock after buying an additional 19,868 shares during the period. Cornerstone Wealth Management LLC’s holdings in AT&T were worth $3,796,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in AT&T in the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% during 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 during the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of AT&T during the fourth quarter valued at about $34,000. Reston Wealth Management LLC purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $22.51 on Friday. The firm has a market cap of $161.54 billion, a PE ratio of 18.30, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $22.80 and a 200 day moving average price of $21.40.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is presently 90.24%.

Analysts Set New Price Targets

A number of research analysts have issued reports on T shares. JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Tigress Financial lifted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Barclays increased their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.