IVC Wealth Advisors LLC Lowers Position in AT&T Inc. (NYSE:T)

IVC Wealth Advisors LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,190 shares of the technology company’s stock after selling 733 shares during the period. IVC Wealth Advisors LLC’s holdings in AT&T were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Donoghue Forlines LLC purchased a new stake in shares of AT&T during the 4th quarter valued at $3,580,000. Beacon Investment Advisory Services Inc. raised its position in AT&T by 58.1% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 39,670 shares of the technology company’s stock valued at $903,000 after purchasing an additional 14,584 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in AT&T during the fourth quarter worth about $34,000. MinichMacGregor Wealth Management LLC boosted its holdings in shares of AT&T by 169.7% in the 4th quarter. MinichMacGregor Wealth Management LLC now owns 27,123 shares of the technology company’s stock worth $618,000 after purchasing an additional 17,068 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in shares of AT&T by 1.8% during the 4th quarter. Mutual Advisors LLC now owns 266,292 shares of the technology company’s stock valued at $5,864,000 after purchasing an additional 4,723 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.9 %

NYSE:T opened at $22.51 on Friday. The company has a 50-day moving average price of $22.80 and a 200-day moving average price of $21.40. The stock has a market cap of $161.54 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 3.50 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 analysts’ expectations of $30.50 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. Equities analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared 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 of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.93%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, January 16th. Finally, Sanford C. Bernstein initiated coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T 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.