Philip James Wealth Mangement LLC Decreases Stake in AT&T Inc. (NYSE:T)

Philip James Wealth Mangement LLC reduced its position in AT&T Inc. (NYSE:T) by 21.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,087 shares of the technology company’s stock after selling 2,720 shares during the period. Philip James Wealth Mangement LLC’s holdings in AT&T were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter worth approximately $25,000. YANKCOM Partnership bought a new stake in AT&T during the fourth quarter worth approximately $30,000. Ritter Daniher Financial Advisory LLC DE increased its stake 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 worth $29,000 after acquiring an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. bought a new stake in AT&T during the fourth quarter worth approximately $34,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T during the third quarter worth approximately $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.0 %

AT&T stock opened at $25.88 on Monday. The business has a fifty day moving average of $23.23 and a two-hundred day moving average of $22.06. 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 cap of $185.66 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $25.93.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.29%. AT&T’s dividend payout ratio is presently 74.50%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on T. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 29th. Scotiabank upped their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 28th. Finally, BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

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.