VCI Wealth Management LLC Takes Position in AT&T Inc. (NYSE:T)

VCI Wealth Management LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 47,084 shares of the technology company's stock, valued at approximately $1,332,000.

A number of other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in AT&T by 1.6% during 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 buying an additional 2,640,644 shares in the last quarter. GQG Partners LLC raised its stake in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Norges Bank acquired a new position in shares of AT&T during the fourth quarter valued at about $1,858,418,000. Northern Trust Corp boosted its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of AT&T by 5.2% in the 4th quarter. Capital World Investors now owns 57,425,387 shares of the technology company's stock worth $1,307,576,000 after buying an additional 2,841,837 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on T shares. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Oppenheimer boosted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Wells Fargo & Company boosted their price objective on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Barclays raised their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

AT&T Price Performance

Shares of NYSE T traded down $0.12 during mid-day trading on Tuesday, reaching $27.27. The company had a trading volume of 9,116,328 shares, compared to its average volume of 36,301,626. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The firm has a market cap of $196.19 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 3.36 and a beta of 0.42. The business's 50-day simple moving average is $27.74 and its 200 day simple moving average is $26.49.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The business's quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.07%. AT&T's dividend payout ratio (DPR) is presently 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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