Amplius Wealth Advisors LLC Acquires 994 Shares of AT&T Inc. (NYSE:T)

Amplius Wealth Advisors LLC lifted its stake in AT&T Inc. (NYSE:T) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,882 shares of the technology company’s stock after buying an additional 994 shares during the period. Amplius Wealth Advisors LLC’s holdings in AT&T were worth $293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the third quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% in the 3rd 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. Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the third quarter worth $35,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T in the third quarter valued at $35,000. Finally, Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter valued at about $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.2 %

NYSE:T opened at $22.30 on Tuesday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock has a 50-day moving average price of $22.79 and a two-hundred day moving average price of $21.35. The stock has a market cap of $159.97 billion, a price-to-earnings ratio of 18.13, a PEG 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 (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the business earned $0.64 EPS. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on T. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Sanford C. Bernstein assumed coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

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.