Granite Bay Wealth Management LLC Increases Stock Holdings in AT&T Inc. (NYSE:T)

Granite Bay Wealth Management LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,109 shares of the technology company’s stock after purchasing an additional 707 shares during the period. Granite Bay Wealth Management LLC’s holdings in AT&T were worth $1,059,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Inc. OK increased its holdings in AT&T by 1,686.6% in the fourth quarter. Capital Advisors Inc. OK now owns 372,609 shares of the technology company’s stock valued at $6,252,000 after buying an additional 351,753 shares during the last quarter. Triasima Portfolio Management inc. purchased a new position in AT&T in the fourth quarter valued at $1,386,000. Louisiana State Employees Retirement System purchased a new position in AT&T in the fourth quarter valued at $7,254,000. Lauer Wealth LLC increased its holdings in AT&T by 9.6% in the fourth quarter. Lauer Wealth LLC now owns 20,416 shares of the technology company’s stock valued at $343,000 after buying an additional 1,787 shares during the last quarter. Finally, Graypoint LLC boosted its stake in AT&T by 19.1% in the fourth quarter. Graypoint LLC now owns 56,470 shares of the technology company’s stock valued at $948,000 after acquiring an additional 9,048 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T traded down $0.11 during mid-day trading on Friday, reaching $16.31. The stock had a trading volume of 41,785,200 shares, compared to its average volume of 34,946,256. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market capitalization of $116.66 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 2.46 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.99. The business has a 50 day simple moving average of $17.10 and a 200 day simple moving average of $16.46.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. During the same period last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.81%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday. Barclays upped their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Finally, Tigress Financial upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

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.