Golden State Wealth Management LLC Increases Stock Holdings in AT&T Inc. (NYSE:T)

Golden State Wealth Management LLC lifted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 342.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,560 shares of the technology company's stock after purchasing an additional 14,362 shares during the quarter. Golden State Wealth Management LLC's holdings in AT&T were worth $525,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of T. Aurora Private Wealth Inc. raised its holdings in AT&T by 903.4% during the first quarter. Aurora Private Wealth Inc. now owns 170,019 shares of the technology company's stock worth $4,808,000 after purchasing an additional 153,075 shares in the last quarter. Kellett Wealth Advisors LLC increased its position in AT&T by 8.2% during the 1st quarter. Kellett Wealth Advisors LLC now owns 16,952 shares of the technology company's stock worth $479,000 after purchasing an additional 1,287 shares during the period. Independent Solutions Wealth Management LLC purchased a new position in shares of AT&T during the 1st quarter worth approximately $275,000. Spire Wealth Management lifted its holdings in shares of AT&T by 71.7% in the 1st quarter. Spire Wealth Management now owns 79,308 shares of the technology company's stock valued at $2,243,000 after buying an additional 33,123 shares during the period. Finally, Mattern Wealth Management LLC lifted its holdings in shares of AT&T by 13.3% in the 1st quarter. Mattern Wealth Management LLC now owns 29,593 shares of the technology company's stock valued at $837,000 after buying an additional 3,472 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of several research analyst reports. Barclays increased their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Scotiabank reiterated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. UBS Group reissued a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Oppenheimer upped their target price 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. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $28.76.

AT&T Price Performance

NYSE:T opened at $28.04 on Friday. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The firm has a market cap of $201.73 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 3.96 and a beta of 0.41. The company's 50-day moving average is $27.61 and its two-hundred day moving average is $25.91. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 yield of 3.96%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is 68.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.