Gateway Wealth Partners LLC Has $402,000 Stock Position in AT&T Inc. (NYSE:T)

Gateway Wealth Partners LLC increased its stake in AT&T Inc. (NYSE:T) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,653 shares of the technology company’s stock after purchasing an additional 2,784 shares during the quarter. Gateway Wealth Partners LLC’s holdings in AT&T were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. purchased a new position in AT&T during the 4th quarter valued at about $34,000. Reston Wealth Management LLC acquired a new position in shares of AT&T in the 3rd quarter valued at about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T in the third quarter worth approximately $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T opened at $24.23 on Thursday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The company has a market cap of $173.89 billion, a P/E ratio of 19.70, a P/E/G ratio of 3.50 and a beta of 0.59. The business’s 50 day moving average is $22.86 and its two-hundred day moving average is $21.55. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.58%. AT&T’s dividend payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on T shares. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Scotiabank upped their target price on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Finally, Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $26.11.

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.