State of Wyoming Buys New Position in AT&T Inc. $T

Key Points

• The State of Wyoming has acquired a new stake in AT&T Inc., purchasing 27,416 shares valued at approximately $775,000 in the first quarter of 2023.
• AT&T recently declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend of $1.11 and a yield of 3.8%.
• Analysts have raised their price targets for AT&T, with firms like Morgan Stanley and Wells Fargo setting new targets between $31.00 and $33.00, indicating a generally positive outlook on the stock.

State of Wyoming bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,416 shares of the technology company's stock, valued at approximately $775,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the first quarter worth $25,000. Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares during the period. IMA Advisory Services Inc. bought a new stake in AT&T during the first quarter valued at $29,000. Core Alternative Capital boosted its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter worth about $25,000. Institutional investors own 57.10% of the company's stock.

AT&T Stock Down 0.3%

T stock opened at $28.97 on Friday. The stock's 50 day simple moving average is $28.08 and its 200 day simple moving average is $27.48. The company has a market cap of $207.11 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $29.65.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is 63.07%.

Analysts Set New Price Targets

T has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $30.21.

AT&T 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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