49 Wealth Management LLC acquired a new stake in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,730 shares of the technology company's stock, valued at approximately $671,000.
A number of other hedge funds have also modified their holdings of the company. Next Level Private LLC increased its position in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after buying an additional 384 shares during the last quarter. Kozak & Associates Inc. increased its holdings in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after buying an additional 398 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings in AT&T by 0.3% in the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after buying an additional 398 shares during the last quarter. Finally, Firethorn Wealth Partners LLC increased its holdings in AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock valued at $286,000 after buying an additional 399 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently weighed in on T shares. JPMorgan Chase & Co. boosted their price objective on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Evercore ISI boosted their price objective on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Royal Bank Of Canada boosted their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Finally, Wells Fargo & Company boosted their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.05.
Check Out Our Latest Research Report on T
AT&T Stock Performance
Shares of NYSE T traded down $0.18 during midday trading on Wednesday, hitting $28.11. 34,408,206 shares of the company's stock were exchanged, compared to its average volume of 36,473,933. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock's 50 day moving average price is $27.83 and its 200-day moving average price is $26.23. The firm has a market cap of $202.27 billion, a P/E ratio of 17.25, a PEG ratio of 3.53 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19.
AT&T (NYSE:T - Get Free Report) last issued 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). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.
AT&T Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T's dividend payout ratio (DPR) is 68.10%.
About AT&T
(
Free Report)
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.
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