Essential Planning LLC. Has $17.03 Million Stake in AT&T Inc. (NYSE:T)

Essential Planning LLC. boosted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 6,368.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 756,996 shares of the technology company's stock after acquiring an additional 745,294 shares during the period. Essential Planning LLC.'s holdings in AT&T were worth $17,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tradewinds Capital Management LLC raised its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after buying an additional 430 shares during the last quarter. Wealthstream Advisors Inc. raised its position in shares of AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company's stock valued at $282,000 after buying an additional 444 shares during the last quarter. Northeast Investment Management raised its position in shares of AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company's stock valued at $1,166,000 after buying an additional 451 shares during the last quarter. Chesapeake Wealth Management raised its position in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company's stock valued at $535,000 after buying an additional 460 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. increased its stake in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company's stock valued at $385,000 after acquiring an additional 460 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on T. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a research note on Wednesday, January 29th. Sanford C. Bernstein upped their target price on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. New Street Research raised shares of AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, UBS Group upped their target price 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 investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $26.74.

Remove Ads

AT&T Price Performance

T opened at $26.02 on Wednesday. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company's 50 day simple moving average is $24.46 and its 200-day simple moving average is $22.94. The stock has a market capitalization of $186.74 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.27%. 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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.