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

Code Waechter LLC purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,786 shares of the technology company's stock, valued at approximately $418,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after buying an additional 6,220,442 shares during the period. Geode Capital Management LLC increased its holdings in shares of AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after acquiring an additional 2,640,644 shares during the last quarter. GQG Partners LLC raised its stake in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Norges Bank bought a new stake in AT&T in the 4th quarter valued at $1,858,418,000. Finally, Northern Trust Corp lifted its holdings in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 2.0%

NYSE T traded down $0.57 on Friday, hitting $27.06. The company's stock had a trading volume of 25,994,878 shares, compared to its average volume of 36,405,047. 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 Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. The company's 50-day moving average is $27.84 and its 200 day moving average is $26.27. The firm has a market cap of $194.68 billion, a PE ratio of 16.60, a PEG ratio of 3.51 and a beta of 0.42.

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 for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

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 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 4.10%. AT&T's dividend payout ratio (DPR) is 68.10%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on T. Williams Trading set a $30.00 target price on shares of AT&T in a research note on Thursday, April 24th. 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. Bank of America initiated coverage on AT&T in a research note on Monday. They set a "buy" rating and a $32.00 target price on the stock. Tigress Financial lifted their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a 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 issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $29.12.

AT&T 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.