Glassman Wealth Services Purchases 1,388 Shares of AT&T Inc. (NYSE:T)

Glassman Wealth Services grew its position in shares of AT&T Inc. (NYSE:T) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,687 shares of the technology company’s stock after acquiring an additional 1,388 shares during the quarter. Glassman Wealth Services’ holdings in AT&T were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of T. Ramirez Asset Management Inc. bought a new stake in AT&T in the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in 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 buying an additional 606 shares during the last quarter. Western Pacific Wealth Management LP bought a new stake in AT&T in the fourth quarter worth $39,000. Financial Gravity Asset Management Inc. lifted its position in AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 2,626 shares during the last quarter. Finally, Morton Brown Family Wealth LLC lifted its position in AT&T by 588.2% in the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after buying an additional 2,241 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.2 %

T stock traded up $0.03 during trading on Friday, reaching $17.50. 24,995,960 shares of the company traded hands, compared to its average volume of 29,188,572. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The business has a 50 day simple moving average of $17.05 and a 200 day simple moving average of $16.86. The company has a market capitalization of $125.48 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, equities research analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. Citigroup increased their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Finally, Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, April 29th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.81.

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.