Waterfront Wealth Inc. Buys 2,461 Shares of AT&T Inc. (NYSE:T)

Waterfront Wealth Inc. increased its stake in shares of AT&T Inc. (NYSE:T) by 15.6% during the 4th quarter, Holdings Channel reports. The fund owned 18,271 shares of the technology company’s stock after acquiring an additional 2,461 shares during the period. Waterfront Wealth Inc.’s holdings in AT&T were worth $416,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of T. International Assets Investment Management LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $14,700,000. Swiss National Bank increased its stake in 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 purchasing an additional 104,700 shares in the last quarter. Franklin Resources Inc. raised its holdings 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 worth $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp raised its stake in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Finally, Caprock Group LLC raised its position in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after buying an additional 30,281 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $26.64 on Friday. The stock has a 50-day moving average price of $23.50 and a 200-day moving average price of $22.28. The company has a market cap of $191.19 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 3.01 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. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $26.72.

AT&T (NYSE:T) last released 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 return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.2775 dividend. 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 4.17%. AT&T’s payout ratio is 74.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, January 16th. Tigress Financial raised their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. upped 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. Finally, UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Company 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.