Meridian Wealth Management LLC Purchases 1,010 Shares of AT&T Inc. (NYSE:T)

Meridian Wealth Management LLC boosted its position in AT&T Inc. (NYSE:T) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 60,044 shares of the technology company’s stock after acquiring an additional 1,010 shares during the period. Meridian Wealth Management LLC’s holdings in AT&T were worth $1,367,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $14,700,000. Swiss National Bank boosted its stake in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Franklin Resources Inc. boosted its stake in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp boosted its stake in AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after acquiring an additional 21,927 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the topic of several research reports. Sanford C. Bernstein boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 29th. Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Scotiabank boosted their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.45.

AT&T Stock Up 1.0 %

Shares of T stock opened at $27.69 on Tuesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.86. The stock has a market cap of $198.76 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.00 and a beta of 0.59. 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 company has a 50 day simple moving average of $24.01 and a two-hundred day simple moving average of $22.64.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. AT&T’s dividend payout ratio is currently 74.50%.

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.