Spire Wealth Management Buys 33,123 Shares of AT&T Inc. (NYSE:T)

Spire Wealth Management boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 71.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,308 shares of the technology company's stock after acquiring an additional 33,123 shares during the quarter. Spire Wealth Management's holdings in AT&T were worth $2,243,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of AT&T by 26.5% during the fourth 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. Lake Street Advisors Group LLC grew its stake in shares of AT&T by 2.3% during the fourth quarter. Lake Street Advisors Group LLC now owns 75,247 shares of the technology company's stock valued at $1,713,000 after buying an additional 1,685 shares during the last quarter. Advisor OS LLC grew its stake in shares of AT&T by 8.1% during the fourth quarter. Advisor OS LLC now owns 35,795 shares of the technology company's stock valued at $815,000 after buying an additional 2,674 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of AT&T by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 51,457 shares of the technology company's stock valued at $1,172,000 after buying an additional 980 shares during the last quarter. Finally, Simmons Bank grew its stake in shares of AT&T by 9.9% during the fourth quarter. Simmons Bank now owns 47,739 shares of the technology company's stock valued at $1,087,000 after buying an additional 4,300 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of T stock opened at $28.04 on Friday. The business's fifty day simple moving average is $27.61 and its 200-day simple moving average is $25.91. The company has a market cap of $201.73 billion, a PE ratio of 17.20, a PEG ratio of 3.96 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Analysts expect 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. Investors of record on Thursday, July 10th will be given a $0.2775 dividend. 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 payout ratio is 68.10%.

Analyst Upgrades and Downgrades

T has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Evercore ISI upped 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. Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, Wells Fargo & Company boosted their price target on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.76.

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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