Naviter Wealth LLC Reduces Stake in AT&T Inc. (NYSE:T)

Naviter Wealth LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 3.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,526 shares of the technology company’s stock after selling 2,443 shares during the period. Naviter Wealth LLC’s holdings in AT&T were worth $999,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Carmel Capital Partners LLC lifted its holdings in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new stake in shares of AT&T during the 3rd quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T during the 3rd quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. grew its stake in AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after buying an additional 2,626 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.0 %

Shares of AT&T stock opened at $16.85 on Tuesday. The company has a 50 day simple moving average of $16.97 and a two-hundred day simple moving average of $16.60. The firm has a market cap of $120.52 billion, a PE ratio of 9.15, a PEG ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.59%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Scotiabank increased their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.