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Code Waechter LLC Makes New Investment in AT&T Inc. (NYSE:T)

AT&T logo with Computer and Technology background

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

Other hedge funds have also made changes to their positions in the company. Keystone Financial Group boosted its stake in shares of AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after buying an additional 143,744 shares during the period. Capstone Wealth Management LLC acquired a new stake in AT&T in the first quarter valued at about $201,000. World Investment Advisors lifted its position 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 during the period. DigitalBridge Group Inc. lifted its position 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 during the period. Finally, Huber Capital Management LLC lifted its position in AT&T by 2.7% in the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after purchasing an additional 15,000 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays raised their price objective 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. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Evercore ISI raised their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Finally, TD Securities raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.12.

Get Our Latest Stock Analysis on T

AT&T Price Performance

Shares of T traded down $0.65 during mid-day trading on Friday, reaching $26.97. 42,637,282 shares of the company's stock were exchanged, compared to its average volume of 36,511,220. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19. The company has a market cap of $194.07 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 3.37 and a beta of 0.42. The company has a 50-day simple moving average of $27.82 and a two-hundred day simple moving average of $26.35. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data 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 net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T's dividend payout ratio is currently 68.10%.

AT&T Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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