Ritholtz Wealth Management Purchases 23,393 Shares of AT&T Inc. (NYSE:T)

Ritholtz Wealth Management boosted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 13.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 194,537 shares of the technology company's stock after buying an additional 23,393 shares during the quarter. Ritholtz Wealth Management's holdings in AT&T were worth $5,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC raised its holdings in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC raised its holdings in 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Finally, Norges Bank bought a new position in AT&T in the 4th quarter worth $1,858,418,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI increased their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Barclays increased their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have issued 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, the company has an average rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Stock Performance

Shares of NYSE:T traded down $0.14 during trading on Friday, hitting $28.13. The company's stock had a trading volume of 22,422,913 shares, compared to its average volume of 36,665,525. The company has a 50-day moving average of $27.41 and a 200-day moving average of $25.64. AT&T Inc. has a 12 month low of $17.49 and a 12 month high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $202.43 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the company earned $0.55 EPS. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's 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.