Alteri Wealth LLC Has $1.07 Million Holdings in AT&T Inc. (NYSE:T)

Key Points

• Alteri Wealth LLC increased its stake in AT&T by 79.4% during Q1, acquiring an additional 16,665 shares, bringing its total holdings to 37,654 shares valued at $1,065,000.
• AT&T reported $30.85 billion in revenue for the last quarter, surpassing estimates and achieving a 3.4% year-over-year growth, with an EPS of $0.54.
• The company announced a quarterly dividend of $0.2775 per share, resulting in an annualized dividend yield of 3.96%.

Alteri Wealth LLC boosted its stake in AT&T Inc. (NYSE:T - Free Report) by 79.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,654 shares of the technology company's stock after acquiring an additional 16,665 shares during the quarter. Alteri Wealth LLC's holdings in AT&T were worth $1,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of AT&T in the fourth quarter worth $229,000. Nomura Asset Management Co. Ltd. grew its stake in shares of AT&T by 1.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,813,545 shares of the technology company's stock worth $64,064,000 after purchasing an additional 40,948 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of AT&T by 3.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 323,088 shares of the technology company's stock worth $7,357,000 after purchasing an additional 11,687 shares in the last quarter. Finally, Level Four Advisory Services LLC grew its stake in shares of AT&T by 3.1% in the fourth quarter. Level Four Advisory Services LLC now owns 139,923 shares of the technology company's stock worth $3,186,000 after purchasing an additional 4,202 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on T shares. Bank of America started coverage on AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. Barclays increased their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Oppenheimer increased their price objective on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. TD Securities increased their price objective on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.66.

AT&T Trading Up 0.4%

Shares of T stock traded up $0.12 on Wednesday, reaching $27.53. 11,290,364 shares of the company's stock were exchanged, compared to its average volume of 37,904,660. AT&T Inc. has a 52 week low of $18.64 and a 52 week high of $29.19. The company's fifty day simple moving average is $27.79 and its 200 day simple moving average is $26.73. The stock has a market capitalization of $196.81 billion, a PE ratio of 15.64, a P/E/G ratio of 3.42 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the prior year, the business earned $0.51 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.03%. AT&T's dividend payout ratio is currently 63.07%.

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.