Napa Wealth Management Takes Position in AT&T Inc. $T

Key Points

• Napa Wealth Management has made a significant investment of $1.61 million in AT&T, acquiring 56,788 shares of the company's stock during the first quarter.
• AT&T recently announced a quarterly dividend of $0.2775 per share, reflecting a 3.9% dividend yield and a payout ratio of 63.07%.
• Analysts have raised price targets for AT&T's stock, with Wells Fargo increasing their target from $30.00 to $31.00, signaling a positive outlook for the company.

Napa Wealth Management bought a new stake in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 56,788 shares of the technology company's stock, valued at approximately $1,606,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. AllSquare Wealth Management LLC grew its position in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after purchasing an additional 378 shares in the last quarter. Next Level Private LLC grew its holdings in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after purchasing an additional 379 shares during the period. Barnes Wealth Management Group Inc grew its holdings in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after buying an additional 380 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after buying an additional 384 shares during the last quarter. Finally, Kozak & Associates Inc. boosted its holdings in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

T stock remained flat at $28.77 during midday trading on Monday. 19,326,142 shares of the company's stock were exchanged, compared to its average volume of 37,054,867. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $19.59 and a 12 month high of $29.65. The company's fifty day moving average price is $27.99 and its 200-day moving average price is $27.40. The company has a market capitalization of $205.72 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. AT&T's payout ratio is currently 63.07%.

Analyst Ratings Changes

A number of research analysts have recently commented on T shares. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.21.

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.