Old North State Wealth Management LLC Purchases Shares of 11,636 AT&T Inc. (NYSE:T)

Old North State Wealth Management LLC acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,636 shares of the technology company's stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the fourth quarter worth about $27,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of AT&T in the fourth quarter valued at about $30,000. Finally, REAP Financial Group LLC grew its stake in shares of AT&T by 115.2% in the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after buying an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on T. Evercore ISI increased their target price on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Tigress Financial increased their target price on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. 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 research note on Thursday, April 24th. Oppenheimer raised their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Finally, Williams Trading set a $30.00 price objective on AT&T in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $28.76.

AT&T Stock Up 0.4%

Shares of AT&T stock opened at $28.04 on Friday. The business's fifty day moving average price is $27.61 and its two-hundred day moving average price is $25.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The company has a market capitalization of $201.73 billion, a P/E ratio of 17.20, a PEG ratio of 3.96 and a beta of 0.41. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.03.

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 company had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is 68.10%.

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.

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