Anchor Pointe Wealth Management LLC Purchases New Holdings in AT&T Inc. (NYSE:T)

Anchor Pointe Wealth Management LLC bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,672 shares of the technology company's stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Carolinas Wealth Consulting LLC grew its holdings in AT&T by 1.6% in the 4th 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. Buska Wealth Management LLC grew its holdings in AT&T by 3.2% in the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company's stock valued at $305,000 after buying an additional 412 shares during the last quarter. 1620 Investment Advisors Inc. grew its holdings in AT&T by 1.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock valued at $596,000 after buying an additional 421 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after buying an additional 430 shares during the last quarter. Finally, BNP Paribas grew its holdings in AT&T by 1.0% in the 4th quarter. BNP Paribas now owns 41,716 shares of the technology company's stock valued at $942,000 after buying an additional 430 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Down 0.5%

Shares of AT&T stock traded down $0.13 during trading on Thursday, reaching $27.38. 27,188,250 shares of the company were exchanged, compared to its average volume of 36,838,931. The business has a 50-day moving average price of $27.34 and a 200-day moving average price of $25.20. The firm has a market capitalization of $196.98 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.16 and a twelve month high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the business posted $0.55 EPS. AT&T's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.05%. AT&T's payout ratio is 68.10%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on T shares. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. TD Securities upped their price objective on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded 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 assigned 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 a consensus rating of "Moderate Buy" and an average price target of $28.71.

AT&T Company 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.