Code Waechter LLC Invests $418,000 in AT&T Inc. (NYSE:T)

Code Waechter LLC bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 14,786 shares of the technology company's stock, valued at approximately $418,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Norges Bank bought a new position in AT&T during the 4th quarter worth about $1,858,418,000. GQG Partners LLC lifted its position in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Northern Trust Corp lifted its position in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after buying an additional 10,945,679 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after buying an additional 7,347,354 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on T. JPMorgan Chase & Co. increased their price target on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Oppenheimer increased their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Barclays increased their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Scotiabank reissued an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.10.

AT&T Stock Performance

NYSE:T traded down $0.50 during midday trading on Thursday, hitting $27.61. The company's stock had a trading volume of 25,030,281 shares, compared to its average volume of 36,440,534. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The firm's 50 day moving average is $27.84 and its 200-day moving average is $26.24. 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 firm has a market cap of $198.63 billion, a P/E ratio of 16.94, a P/E/G ratio of 3.51 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued 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). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the company posted $0.55 EPS. AT&T's quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company 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 dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.02%. AT&T's payout ratio 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.