Spire Wealth Management Sells 1,090 Shares of AT&T Inc. (NYSE:T)

Spire Wealth Management reduced its stake in AT&T Inc. (NYSE:TFree Report) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,143 shares of the technology company’s stock after selling 1,090 shares during the quarter. Spire Wealth Management’s holdings in AT&T were worth $1,054,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its position in AT&T by 2.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 323,840 shares of the technology company’s stock valued at $4,866,000 after acquiring an additional 9,188 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in AT&T during the 3rd quarter worth about $530,000. Penobscot Investment Management Company Inc. lifted its position in AT&T by 48.6% during the 3rd quarter. Penobscot Investment Management Company Inc. now owns 53,951 shares of the technology company’s stock worth $810,000 after buying an additional 17,650 shares in the last quarter. Newport Trust Company LLC lifted its position in AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares in the last quarter. Finally, Greatmark Investment Partners Inc. lifted its position in AT&T by 33.6% during the 3rd quarter. Greatmark Investment Partners Inc. now owns 33,601 shares of the technology company’s stock worth $505,000 after buying an additional 8,452 shares in the last quarter. 53.65% of the stock is owned by institutional investors.

AT&T Stock Performance

NYSE T opened at $17.62 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $125.95 billion, a P/E ratio of 8.99, a P/E/G ratio of 2.64 and a beta of 0.59. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.99. The firm has a 50-day moving average price of $16.88 and a two-hundred day moving average price of $15.61.

AT&T (NYSE:TGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. Analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.30%. The ex-dividend date of this dividend was Tuesday, January 9th. AT&T’s dividend payout ratio (DPR) is currently 56.63%.

Analysts Set New Price Targets

Several brokerages have commented on T. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Friday, January 19th. Barclays boosted their price target 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. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Royal Bank of Canada boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Finally, JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $21.65.

Read Our Latest Stock Report on AT&T

AT&T Profile

(Free Report)

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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