Gilliland Jeter Wealth Management LLC Acquires Shares of 265,452 AT&T Inc. (NYSE:T)

Gilliland Jeter Wealth Management LLC bought a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 265,452 shares of the technology company’s stock, valued at approximately $4,454,000. AT&T makes up about 1.8% of Gilliland Jeter Wealth Management LLC’s holdings, making the stock its 8th biggest position.

A number of other institutional investors also recently modified their holdings of the business. Exchange Traded Concepts LLC grew its holdings in shares of AT&T by 33.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock worth $651,000 after purchasing an additional 10,758 shares in the last quarter. Advisory Alpha LLC increased its holdings in AT&T by 12.7% in the 3rd quarter. Advisory Alpha LLC now owns 72,868 shares of the technology company’s stock valued at $1,094,000 after buying an additional 8,236 shares during the period. Secure Asset Management LLC increased its holdings in AT&T by 22.6% in the 3rd quarter. Secure Asset Management LLC now owns 18,367 shares of the technology company’s stock valued at $276,000 after buying an additional 3,388 shares during the period. Stewart & Patten Co. LLC raised its position in shares of AT&T by 1.5% in the 3rd quarter. Stewart & Patten Co. LLC now owns 647,260 shares of the technology company’s stock valued at $9,722,000 after buying an additional 9,475 shares in the last quarter. Finally, Spirit of America Management Corp NY lifted its holdings in shares of AT&T by 46.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 9,500 shares of the technology company’s stock worth $143,000 after acquiring an additional 3,000 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on T. Scotiabank raised their price objective on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Barclays raised their target price on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Trading Up 1.0 %

Shares of AT&T stock traded up $0.17 on Friday, reaching $16.75. 37,852,681 shares of the company’s stock were exchanged, compared to its average volume of 39,190,348. The company has a market capitalization of $119.81 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.57. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68. The firm’s 50-day moving average is $16.96 and its two-hundred day moving average is $16.57.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T 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.