Meritage Portfolio Management Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Meritage Portfolio Management lowered its position in shares of AT&T Inc. (NYSE:T) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,109 shares of the technology company’s stock after selling 5,179 shares during the period. Meritage Portfolio Management’s holdings in AT&T were worth $5,672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position 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 valued at $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new position in AT&T in the 4th quarter worth approximately $34,000. Reston Wealth Management LLC bought a new position in shares of AT&T in the 3rd quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T in the 3rd quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.0 %

Shares of NYSE:T opened at $24.26 on Wednesday. The stock’s 50-day moving average is $22.97 and its 200 day moving average is $21.73. The company has a market cap of $174.05 billion, a PE ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Sell-side analysts anticipate that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.58%. AT&T’s dividend payout ratio is 74.50%.

Analyst Ratings Changes

A number of research analysts recently commented on T shares. Sanford C. Bernstein increased their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. UBS Group raised their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.21.

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.