Palacios Wealth Management LLC Invests $455,000 in AT&T Inc. (NYSE:T)

Palacios Wealth Management LLC bought a new position in AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,718 shares of the technology company’s stock, valued at approximately $455,000.

Several other hedge funds and other institutional investors have also modified their holdings of T. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in 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 valued at $29,000 after purchasing an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new stake in AT&T during the fourth quarter valued at $30,000. Endeavor Private Wealth Inc. acquired a new stake in AT&T during the fourth quarter valued at $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T during the third quarter valued at $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

Shares of T opened at $25.63 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $25.74. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $183.87 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.79 and a beta of 0.59. The stock’s 50-day moving average price is $23.15 and its 200 day moving average price is $21.96.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, research analysts predict that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.33%. AT&T’s dividend payout ratio is 74.50%.

Analysts Set New Price Targets

T has been the subject of a number of research reports. Scotiabank lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research report on Thursday. Royal Bank of Canada lifted their price objective on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Barclays raised their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.33.

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.