Graves Light Lenhart Wealth Inc. Buys 1,711 Shares of AT&T Inc. (NYSE:T)

Graves Light Lenhart Wealth Inc. boosted its stake in AT&T Inc. (NYSE:T) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,712 shares of the technology company’s stock after acquiring an additional 1,711 shares during the period. Graves Light Lenhart Wealth Inc.’s holdings in AT&T were worth $494,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new position in AT&T in the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% during 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 period. Altshuler Shaham Ltd purchased a new stake in AT&T during the 2nd quarter worth about $30,000. Reston Wealth Management LLC purchased a new stake in AT&T during the 3rd quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T in the 3rd quarter worth about $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI increased their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Barclays increased their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $25.76.

AT&T Trading Down 0.6 %

NYSE:T opened at $21.56 on Tuesday. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company’s 50-day simple moving average is $22.81 and its 200 day simple moving average is $21.26. The firm has a market capitalization of $154.70 billion, a P/E ratio of 17.53, a PEG ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

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.