Axxcess Wealth Management LLC Buys 54,428 Shares of AT&T Inc. (NYSE:T)

Axxcess Wealth Management LLC raised its position in AT&T Inc. (NYSE:T - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,606 shares of the technology company's stock after purchasing an additional 54,428 shares during the quarter. Axxcess Wealth Management LLC's holdings in AT&T were worth $4,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in AT&T in the 4th quarter valued at $51,000. LSV Asset Management boosted its position in shares of AT&T by 2.8% in the fourth quarter. LSV Asset Management now owns 29,443,243 shares of the technology company's stock worth $494,058,000 after buying an additional 797,700 shares during the period. Stokes Family Office LLC grew its stake in shares of AT&T by 7.9% in the fourth quarter. Stokes Family Office LLC now owns 61,050 shares of the technology company's stock valued at $1,024,000 after buying an additional 4,474 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of AT&T by 15.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 97,860 shares of the technology company's stock valued at $1,642,000 after buying an additional 13,319 shares during the period. Finally, Aveo Capital Partners LLC lifted its position in AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company's stock worth $466,000 after acquiring an additional 1,194 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on T. TheStreet upgraded AT&T from a "c" rating to a "b-" rating in a research note on Wednesday, January 24th. Scotiabank increased their target price on AT&T from $22.00 to $22.50 and gave the company a "sector outperform" rating in a research note on Thursday, April 25th. Oppenheimer upgraded shares of AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Citigroup increased their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised shares of AT&T from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.81.

AT&T Trading Up 0.2 %

Shares of NYSE:T traded up $0.03 during mid-day trading on Friday, hitting $16.85. The stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The company's 50 day moving average is $16.97 and its 200-day moving average is $16.64. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company has a market cap of $120.52 billion, a PE ratio of 9.06, a P/E/G ratio of 3.31 and a beta of 0.57.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. AT&T's quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date was Tuesday, April 9th. AT&T's dividend payout ratio (DPR) is presently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.