Old North State Wealth Management LLC Takes Position in AT&T Inc. (NYSE:T)

Old North State Wealth Management LLC bought a new stake in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,636 shares of the technology company's stock, valued at approximately $329,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in AT&T in the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC lifted its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp increased its position in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the period. Finally, Assetmark Inc. increased its position in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after buying an additional 9,719,036 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 3.2%

NYSE T traded up $0.89 on Monday, reaching $28.97. The company had a trading volume of 29,761,985 shares, compared to its average volume of 38,757,645. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The company's fifty day moving average is $27.63 and its 200 day moving average is $25.97. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.03. The stock has a market capitalization of $208.46 billion, a P/E ratio of 17.77, a P/E/G ratio of 3.98 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 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 firm 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 EPS. The business's revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.83%. AT&T's dividend payout ratio is currently 68.10%.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price target on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Morgan Stanley restated an "overweight" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.90.

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.