Focus Partners Wealth Increases Position in AT&T Inc. (NYSE:T)

Focus Partners Wealth raised its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 59.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,235,890 shares of the technology company's stock after buying an additional 459,410 shares during the period. Focus Partners Wealth's holdings in AT&T were worth $29,120,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Consolidated Planning Corp lifted its position in AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock valued at $7,288,000 after purchasing an additional 21,927 shares in the last quarter. Keystone Financial Group increased its holdings in AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. World Investment Advisors increased its holdings in AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after acquiring an additional 63,359 shares in the last quarter. Fortress Financial Solutions LLC bought a new stake in AT&T during the 4th quarter worth approximately $691,000. Finally, DigitalBridge Group Inc. lifted its holdings in AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after purchasing an additional 365,776 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on T shares. Royal Bank of Canada raised their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Argus raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Finally, Wells Fargo & Company increased their price target on shares of 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Trading Down 2.1%

T stock traded down $0.58 during trading on Tuesday, hitting $26.43. The company had a trading volume of 58,702,618 shares, compared to its average volume of 36,708,966. AT&T Inc. has a 52-week low of $17.11 and a 52-week high of $29.03. The company has a 50 day simple moving average of $27.17 and a 200-day simple moving average of $24.80. The firm has a market capitalization of $190.18 billion, a P/E ratio of 17.74, a PEG ratio of 3.00 and a beta of 0.42. 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 (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.20%. AT&T's dividend payout ratio is currently 68.10%.

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.