AT&T Inc. (NYSE:T) Shares Purchased by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. raised its stake in AT&T Inc. (NYSE:T) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,866 shares of the technology company’s stock after acquiring an additional 1,274 shares during the quarter. Institute for Wealth Management LLC.’s holdings in AT&T were worth $770,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Sora Investors LLC acquired a new position in AT&T in the 3rd quarter worth about $11,265,000. Robeco Institutional Asset Management B.V. lifted its position in shares of AT&T by 2.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock valued at $259,219,000 after buying an additional 383,015 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after acquiring an additional 1,178 shares during the period. Retireful LLC purchased a new stake in AT&T in the 4th quarter worth $1,163,000. Finally, Terril Brothers Inc. raised its position in AT&T by 51.6% during the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock worth $8,937,000 after acquiring an additional 202,637 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Citigroup boosted their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Stock Performance

NYSE:T opened at $16.51 on Friday. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.72. The company has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $16.49. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The company has a market cap of $118.09 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

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.