Sagespring Wealth Partners LLC Takes Position in AT&T Inc. (NYSE:T)

Sagespring Wealth Partners LLC purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 110,919 shares of the technology company's stock, valued at approximately $2,526,000.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in AT&T during the fourth quarter worth approximately $14,700,000. 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 grew its holdings in 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 period. World Investment Advisors raised its holdings in shares of AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after purchasing an additional 63,359 shares during the period. Finally, Fortress Financial Solutions LLC bought a new position in shares of AT&T during the 4th quarter worth about $691,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. Tigress Financial increased their target price on shares of AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Oppenheimer upped their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. UBS Group raised their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Scotiabank raised their target price on AT&T from $28.50 to $29.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.24.

AT&T Stock Performance

Shares of NYSE:T traded up $0.33 during midday trading on Thursday, hitting $27.35. The company had a trading volume of 12,163,531 shares, compared to its average volume of 36,585,940. The company has a fifty day moving average of $26.76 and a two-hundred day moving average of $24.07. AT&T Inc. has a 12-month low of $16.06 and a 12-month high of $29.03. 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 has a market cap of $196.34 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its earnings results 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%. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's payout ratio is currently 74.50%.

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.