WFA Asset Management Corp Has $5.65 Million Stake in AT&T Inc. (NYSE:T)

WFA Asset Management Corp lifted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 28.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,914 shares of the technology company's stock after purchasing an additional 43,882 shares during the quarter. AT&T accounts for 3.3% of WFA Asset Management Corp's portfolio, making the stock its 11th largest position. WFA Asset Management Corp's holdings in AT&T were worth $5,654,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC lifted its stake 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 valued at $3,719,723,000 after acquiring an additional 2,640,644 shares in the last quarter. GQG Partners LLC boosted its position in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.1% during 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 acquiring an additional 5,649,277 shares in the last quarter. Finally, Norges Bank acquired a new position in AT&T during the fourth quarter worth $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 1.2%

T stock opened at $28.09 on Monday. The firm has a market capitalization of $202.12 billion, a PE ratio of 18.85, 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 twelve month low of $17.42 and a twelve month high of $29.03. The stock's 50 day moving average is $27.32 and its 200-day moving average is $25.49.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) 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 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 company earned $0.55 EPS. The business's revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Securities upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Scotiabank restated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Barclays increased their target price on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Tigress Financial lifted their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.71.

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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