Avidian Wealth Enterprises LLC Sells 861 Shares of AT&T Inc. (NYSE:T)

Avidian Wealth Enterprises LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,024 shares of the technology company’s stock after selling 861 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in AT&T were worth $1,298,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. AMF Tjanstepension AB boosted its stake in AT&T by 305.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after purchasing an additional 1,161,152 shares during the period. ORG Wealth Partners LLC bought a new stake in AT&T during the 3rd quarter valued at approximately $72,000. Creative Planning boosted its stake in AT&T by 2.8% during the 3rd quarter. Creative Planning now owns 1,564,777 shares of the technology company’s stock valued at $34,413,000 after purchasing an additional 43,218 shares during the period. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in AT&T during the 3rd quarter valued at approximately $257,000. Finally, Swedbank AB boosted its stake in AT&T by 7.1% during the 3rd quarter. Swedbank AB now owns 3,299,715 shares of the technology company’s stock valued at $72,594,000 after purchasing an additional 219,382 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup increased their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada increased their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Trading Up 0.9 %

Shares of T opened at $25.37 on Thursday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $25.38. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $23.11 and a 200-day simple moving average of $21.94. The stock has a market cap of $182.04 billion, a PE ratio of 17.03, a PEG ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. On average, sell-side analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

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

About AT&T

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.