Whitaker Myers Wealth Managers LTD. Invests $332,000 in AT&T Inc. (NYSE:T)

Whitaker Myers Wealth Managers LTD. acquired a new position in AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 14,567 shares of the technology company’s stock, valued at approximately $332,000.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of 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 in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $35,000. Reston Wealth Management LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $35,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter valued at approximately $30,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $22.30 on Friday. The stock has a 50 day moving average of $22.79 and a 200 day moving average of $21.31. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The firm has a market cap of $159.97 billion, a PE ratio of 18.13, a PEG ratio of 3.46 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 announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating 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 company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 dividend on an annualized basis and a yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

T has been the topic of several research reports. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $22.00 to $26.00 in a research note on Monday, January 6th. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Citigroup lifted their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus 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.