Principle Wealth Partners LLC Has $540,000 Stake in AT&T Inc. (NYSE:T)

Principle Wealth Partners LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,168 shares of the technology company’s stock after selling 3,503 shares during the period. Principle Wealth Partners LLC’s holdings in AT&T were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Carmel Capital Partners LLC lifted its position in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new position in AT&T during the third quarter worth about $30,000. Ramirez Asset Management Inc. bought a new position in shares of AT&T in the third quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. boosted its stake in shares of AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on T shares. Barclays upped their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Citigroup increased their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Scotiabank upped their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday. Finally, StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Price Performance

Shares of T opened at $16.75 on Monday. The business has a 50-day moving average of $16.96 and a 200-day moving average of $16.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company has a market capitalization of $119.81 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the business earned $0.60 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. AT&T’s payout ratio is 59.68%.

About AT&T

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.