WESPAC Advisors LLC purchased a new position in AT&T Inc. (NYSE:T) in the fourth quarter, HoldingsChannel reports. The firm purchased 27,370 shares of the technology company’s stock, valued at approximately $781,000.
Several other large investors also recently modified their holdings of the stock. First Command Financial Services Inc. boosted its holdings in shares of AT&T by 2.8% during the third quarter. First Command Financial Services Inc. now owns 78,184 shares of the technology company’s stock worth $2,624,000 after acquiring an additional 2,122 shares during the period. IFP Advisors Inc increased its stake in AT&T by 10.1% in the 3rd quarter. IFP Advisors Inc now owns 447,380 shares of the technology company’s stock valued at $15,023,000 after buying an additional 40,994 shares during the last quarter. Wright Investors Service Inc. increased its stake in AT&T by 2.0% in the 3rd quarter. Wright Investors Service Inc. now owns 96,386 shares of the technology company’s stock valued at $3,237,000 after buying an additional 1,911 shares during the last quarter. First Trust Advisors LP increased its stake in AT&T by 13.9% in the 3rd quarter. First Trust Advisors LP now owns 6,776,864 shares of the technology company’s stock valued at $227,567,000 after buying an additional 827,123 shares during the last quarter. Finally, Merit Financial Group LLC increased its stake in AT&T by 167.9% in the 3rd quarter. Merit Financial Group LLC now owns 92,721 shares of the technology company’s stock valued at $3,113,000 after buying an additional 58,108 shares during the last quarter. Hedge funds and other institutional investors own 64.60% of the company’s stock.
A number of research analysts have recently weighed in on T shares. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. Cowen reissued a “buy” rating and set a $35.00 target price on shares of AT&T in a research report on Thursday, January 31st. ValuEngine downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Finally, Desjardins reissued an “average” rating and set a $56.50 target price on shares of AT&T in a research report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.32.
T opened at $32.66 on Monday. The company has a market capitalization of $195.22 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.58. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $34.53. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.84.
AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.86 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.86. The company had revenue of $44.83 billion during the quarter, compared to the consensus estimate of $45.20 billion. AT&T had a net margin of 10.59% and a return on equity of 13.16%. AT&T’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. On average, equities analysts expect that AT&T Inc. will post 3.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
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AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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