Alpine Bank Wealth Management Acquires Shares of 10,722 AT&T Inc. (NYSE:T)

Alpine Bank Wealth Management bought a new position in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,722 shares of the technology company's stock, valued at approximately $303,000.

Other hedge funds have also added to or reduced their stakes in the company. Keystone Financial Group increased its stake in AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC bought a new position in shares of AT&T in the first quarter worth approximately $201,000. World Investment Advisors raised its stake in AT&T by 36.4% in 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 in the last quarter. DigitalBridge Group Inc. raised its stake in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after purchasing an additional 365,776 shares in the last quarter. Finally, West Family Investments Inc. lifted its position in AT&T by 70.4% during the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock valued at $864,000 after purchasing an additional 15,680 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Down 1.2%

Shares of T stock traded down $0.35 during trading hours on Wednesday, reaching $27.93. The company's stock had a trading volume of 26,183,730 shares, compared to its average volume of 36,471,606. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03. The stock has a market capitalization of $200.97 billion, a P/E ratio of 17.13, a P/E/G ratio of 4.00 and a beta of 0.41. The firm's fifty day simple moving average is $27.57 and its 200 day simple moving average is $25.86.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.97%. AT&T's dividend payout ratio is currently 68.10%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on T shares. Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. Royal Bank Of Canada lifted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Barclays increased their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $28.76.

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.