Barnes Dennig Private Wealth Management LLC Invests $910,000 in AT&T Inc. (NYSE:T)

Barnes Dennig Private Wealth Management LLC acquired a new position in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,194 shares of the technology company's stock, valued at approximately $910,000. AT&T comprises 1.4% of Barnes Dennig Private Wealth Management LLC's investment portfolio, making the stock its 21st biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Next Level Private LLC increased its stake in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of 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 acquiring an additional 384 shares in the last quarter. Kozak & Associates Inc. increased its position in shares of AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after acquiring an additional 398 shares during the last quarter. Silver Oak Securities Incorporated increased its position in shares of AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after acquiring an additional 398 shares during the last quarter. Finally, Firethorn Wealth Partners LLC lifted its holdings in AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock worth $286,000 after acquiring an additional 399 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on T. JPMorgan Chase & Co. upped their price objective on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Tigress Financial increased their price target 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. Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.90.

AT&T Stock Performance

Shares of T traded up $0.02 on Friday, reaching $28.33. The company's stock had a trading volume of 21,085,177 shares, compared to its average volume of 36,473,882. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The stock has a market capitalization of $203.82 billion, a P/E ratio of 17.38, a PEG ratio of 4.02 and a beta of 0.42. The stock's 50 day simple moving average is $27.76 and its two-hundred day simple moving average is $26.08.

AT&T (NYSE:T - Get Free Report) last released its earnings results 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 firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 68.10%.

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.