Moran Wealth Management LLC Purchases New Stake in AT&T Inc. (NYSE:T)

Moran Wealth Management LLC bought a new stake in shares of AT&T Inc. (NYSE:TFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 511,472 shares of the technology company’s stock, valued at approximately $8,582,000.

Several other hedge funds also recently modified their holdings of the business. Pinnacle Wealth Planning Services Inc. raised its position in shares of AT&T by 22.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 47,267 shares of the technology company’s stock valued at $793,000 after acquiring an additional 8,712 shares during the period. First United Bank & Trust raised its holdings in AT&T by 8.9% in the fourth quarter. First United Bank & Trust now owns 12,723 shares of the technology company’s stock worth $213,000 after purchasing an additional 1,040 shares during the period. Advisor OS LLC boosted its position in shares of AT&T by 6.7% during the fourth quarter. Advisor OS LLC now owns 27,043 shares of the technology company’s stock worth $454,000 after purchasing an additional 1,689 shares in the last quarter. Partnership Wealth Management LLC acquired a new position in shares of AT&T in the 4th quarter valued at $440,000. Finally, Checchi Capital Advisers LLC increased its position in shares of AT&T by 17.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 45,532 shares of the technology company’s stock valued at $764,000 after buying an additional 6,603 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Tigress Financial boosted their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Monday, April 29th. Finally, Scotiabank boosted their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

Read Our Latest Analysis on T

AT&T Price Performance

Shares of NYSE T traded down $0.06 during trading hours on Wednesday, hitting $17.24. 9,600,490 shares of the stock were exchanged, compared to its average volume of 37,698,930. The company’s fifty day simple moving average is $17.00 and its two-hundred day simple moving average is $16.77. The company has a market cap of $123.61 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping 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 business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the prior year, the company earned $0.60 EPS. AT&T’s revenue for the quarter 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 company also recently disclosed 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 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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