Spartan Planning & Wealth Management Buys Shares of 12,469 AT&T Inc. (NYSE:T)

Spartan Planning & Wealth Management bought a new stake in AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,469 shares of the technology company’s stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in 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. Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T during the 3rd quarter worth about $35,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T during the 3rd quarter valued at about $35,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 0.4 %

Shares of T stock traded down $0.10 on Tuesday, hitting $22.50. The stock had a trading volume of 12,434,093 shares, compared to its average volume of 25,069,668. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business has a 50 day moving average of $22.83 and a 200 day moving average of $21.14. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The stock has a market cap of $161.44 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

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

AT&T Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.93%. AT&T’s payout ratio is currently 90.24%.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $22.00 to $26.00 in a report on Monday. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Sanford C. Bernstein started coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $25.76.

AT&T Company 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.