Independent Wealth Network Inc. Purchases 1,066 Shares of AT&T Inc. (NYSE:T)

Independent Wealth Network Inc. lifted its position in AT&T Inc. (NYSE:T) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,793 shares of the technology company’s stock after acquiring an additional 1,066 shares during the quarter. Independent Wealth Network Inc.’s holdings in AT&T were worth $405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in T. Janney Montgomery Scott LLC grew its stake in AT&T by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,254,967 shares of the technology company’s stock valued at $51,346,000 after purchasing an additional 22,342 shares during the last quarter. Marino Stram & Associates LLC grew its stake in shares of AT&T by 4.0% during the fourth quarter. Marino Stram & Associates LLC now owns 13,477 shares of the technology company’s stock worth $307,000 after acquiring an additional 516 shares during the last quarter. Magnus Financial Group LLC boosted its position in AT&T by 32.4% in the fourth quarter. Magnus Financial Group LLC now owns 26,281 shares of the technology company’s stock valued at $598,000 after buying an additional 6,436 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in AT&T by 4.6% in the fourth quarter. Daymark Wealth Partners LLC now owns 27,784 shares of the technology company’s stock valued at $633,000 after buying an additional 1,212 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. boosted its position in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on T. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Tigress Financial boosted their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Down 0.7 %

Shares of T stock opened at $22.34 on Thursday. The business’s fifty day moving average price is $22.80 and its 200 day moving average price is $21.40. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The firm has a market capitalization of $160.30 billion, a PE ratio of 18.16, a P/E/G ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.97%. AT&T’s dividend payout ratio (DPR) is presently 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.