49 Wealth Management LLC Invests $671,000 in AT&T Inc. (NYSE:T)

49 Wealth Management LLC bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,730 shares of the technology company's stock, valued at approximately $671,000.

Other large investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $27,000. Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after buying an additional 568 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of AT&T during the fourth quarter worth approximately $30,000. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

AT&T stock traded down $0.92 during mid-day trading on Friday, hitting $26.71. 14,068,738 shares of the company were exchanged, compared to its average volume of 36,356,431. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The business has a fifty day moving average of $27.84 and a 200 day moving average of $26.27. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. The company has a market capitalization of $192.16 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.51 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.16%. AT&T's dividend payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on T. Evercore ISI upped their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Finally, UBS Group restated a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $29.12.

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.