Maridea Wealth Management LLC Invests $568,000 in AT&T Inc. (NYSE:T)

Key Points

• Maridea Wealth Management LLC has purchased a new stake in AT&T Inc., acquiring 20,096 shares valued at approximately $568,000.
• AT&T recently reported quarterly earnings of $0.54 EPS, surpassing analysts' expectations of $0.53, with a revenue of $30.85 billion, also exceeding forecasts.
• The company declared a quarterly dividend of $0.2775 per share, reflecting an annualized dividend yield of 3.96% and a payout ratio of 63.07%.

Maridea Wealth Management LLC acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,096 shares of the technology company's stock, valued at approximately $568,000.

Several other hedge funds have also modified their holdings of T. Brighton Jones LLC raised its holdings in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after buying an additional 10,188 shares during the period. New Age Alpha Advisors LLC purchased a new stake in AT&T during the 4th quarter valued at $229,000. Orion Portfolio Solutions LLC raised its holdings in AT&T by 3.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 323,088 shares of the technology company's stock valued at $7,357,000 after buying an additional 11,687 shares during the period. Brown Brothers Harriman & Co. raised its holdings in AT&T by 4.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 100,437 shares of the technology company's stock valued at $2,287,000 after buying an additional 4,406 shares during the period. Finally, L & S Advisors Inc bought a new position in AT&T in the 4th quarter valued at $3,552,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on T shares. Royal Bank Of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday, April 24th. Scotiabank upped their price objective on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Finally, Cowen reaffirmed a "hold" rating on shares of AT&T in a research 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $29.66.

AT&T Stock Down 0.2%

AT&T stock traded down $0.05 during midday trading on Thursday, reaching $27.46. The company's stock had a trading volume of 15,629,210 shares, compared to its average volume of 37,877,305. The stock's 50-day simple moving average is $27.79 and its 200-day simple moving average is $26.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a 52-week low of $18.64 and a 52-week high of $29.19. The stock has a market capitalization of $196.31 billion, a P/E ratio of 15.62, a PEG ratio of 3.40 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period last year, the business posted $0.51 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current 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 $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is 63.07%.

About AT&T

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.