Secure Asset Management LLC Increases Stake in AT&T Inc. (NYSE:T)

Secure Asset Management LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 10.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 44,599 shares of the technology company’s stock after acquiring an additional 4,060 shares during the quarter. Secure Asset Management LLC’s holdings in AT&T were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Red Door Wealth Management LLC raised its position in shares of AT&T by 5.2% in the fourth quarter. Red Door Wealth Management LLC now owns 34,443 shares of the technology company’s stock valued at $784,000 after purchasing an additional 1,717 shares during the period. Donoghue Forlines LLC bought a new position in AT&T in the 4th quarter worth about $3,580,000. Beacon Investment Advisory Services Inc. boosted its stake in AT&T by 58.1% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 39,670 shares of the technology company’s stock worth $903,000 after purchasing an additional 14,584 shares during the period. Endeavor Private Wealth Inc. purchased a new position in AT&T during the 4th quarter valued at about $34,000. Finally, MinichMacGregor Wealth Management LLC increased its position in shares of AT&T by 169.7% during the fourth quarter. MinichMacGregor Wealth Management LLC now owns 27,123 shares of the technology company’s stock valued at $618,000 after buying an additional 17,068 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Stock Performance

AT&T stock opened at $22.69 on Friday. The firm has a fifty day simple moving average of $22.80 and a two-hundred day simple moving average of $21.41. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a market capitalization of $162.77 billion, a PE ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the company posted $0.64 EPS. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.21 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. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.89%. AT&T’s payout ratio is currently 90.24%.

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.