Watershed Private Wealth LLC Takes $219,000 Position in AT&T Inc. (NYSE:T)

Watershed Private Wealth LLC bought a new position in AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,596 shares of the technology company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. International Assets Investment Management LLC purchased a new position in AT&T in the fourth quarter valued at $14,700,000. Swiss National Bank grew its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. increased its stake in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. Caprock Group LLC raised its holdings in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. Finally, Talbot Financial LLC purchased a new position in AT&T during the third quarter worth approximately $7,438,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Argus upgraded shares of 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 Thursday, January 16th. Royal Bank of Canada lifted their target price on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.06.

AT&T Stock Performance

AT&T stock opened at $24.43 on Wednesday. The firm has a 50 day simple moving average of $22.83 and a 200-day simple moving average of $21.51. The stock has a market cap of $175.26 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. On average, analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 yield of 4.54%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

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.