Twin Peaks Wealth Advisors LLC Acquires New Position in AT&T Inc. (NYSE:T)

Twin Peaks Wealth Advisors LLC bought a new position in AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,031 shares of the technology company's stock, valued at approximately $331,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings 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 acquiring an additional 10,188 shares in the last quarter. Capital Advisors Inc. OK increased its holdings in shares of AT&T by 10.8% during the fourth quarter. Capital Advisors Inc. OK now owns 25,224 shares of the technology company's stock valued at $574,000 after acquiring an additional 2,453 shares in the last quarter. Gladstone Institutional Advisory LLC increased its holdings in shares of AT&T by 42.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 101,424 shares of the technology company's stock valued at $2,309,000 after acquiring an additional 30,332 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of AT&T by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 404,343 shares of the technology company's stock valued at $9,207,000 after acquiring an additional 7,385 shares in the last quarter. Finally, MFG Wealth Management Inc. bought a new stake in shares of AT&T during the fourth quarter valued at approximately $3,319,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on T. Wells Fargo & Company boosted their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank of Canada upped their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Evercore ISI upped their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, TD Securities upped their price target on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $28.71.

AT&T Price Performance

T traded down $0.14 during trading on Friday, reaching $28.13. 22,422,913 shares of the company were exchanged, compared to its average volume of 36,609,434. The company's 50-day moving average is $27.38 and its two-hundred day moving average is $25.59. The company 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. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $17.49 and a 12-month high of $29.03.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. AT&T's payout ratio is currently 68.10%.

About AT&T

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.