Glassman Wealth Services Increases Stake in AT&T Inc. (NYSE:T)

Glassman Wealth Services lifted its holdings in shares of AT&T Inc. (NYSE:T) by 6.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,687 shares of the technology company’s stock after buying an additional 1,388 shares during the period. Glassman Wealth Services’ holdings in AT&T were worth $397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in T. Norges Bank acquired a new stake in shares of AT&T during the 4th quarter worth about $1,118,288,000. Ameriprise Financial Inc. increased its position in AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after buying an additional 34,189,954 shares during the period. FMR LLC increased its position in AT&T by 130.5% during the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after buying an additional 32,558,342 shares during the period. Thornburg Investment Management Inc. acquired a new position in AT&T during the fourth quarter worth approximately $316,472,000. Finally, Barclays PLC increased its position in AT&T by 30.6% during the third quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock worth $393,931,000 after buying an additional 6,137,909 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock traded up $0.03 during trading on Friday, reaching $17.50. The company’s stock had a trading volume of 24,995,960 shares, compared to its average volume of 29,188,572. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a market capitalization of $125.48 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. The business has a 50 day moving average price of $17.05 and a 200-day moving average price of $16.86.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.34%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

T has been the topic of several research analyst reports. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Scotiabank lifted their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday, April 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.