Avidian Wealth Enterprises LLC Has $1.30 Million Stock Position in AT&T Inc. (NYSE:T)

Avidian Wealth Enterprises LLC reduced its position in AT&T Inc. (NYSE:T) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,024 shares of the technology company’s stock after selling 861 shares during the period. Avidian Wealth Enterprises LLC’s holdings in AT&T were worth $1,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Legacy Investment Solutions LLC bought a new position in shares of AT&T in the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. YANKCOM Partnership bought a new position in shares of AT&T in the 4th quarter worth $30,000. Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the 4th quarter worth $34,000. Finally, Reston Wealth Management LLC bought a new position in shares of AT&T in the 3rd quarter worth $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T opened at $25.37 on Thursday. The business’s 50-day moving average price is $23.11 and its two-hundred day moving average price is $21.94. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $25.38. The company has a market capitalization of $182.04 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 2.79 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 (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts expect that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Scotiabank lifted their target price on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 28th. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $26.21.

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.