Wealth Enhancement Advisory Services LLC raised its position in shares of AT&T Inc. (NYSE:T) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 301,182 shares of the technology company’s stock after acquiring an additional 8,261 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in AT&T were worth $9,331,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of AT&T by 1.3% in the first quarter. BlackRock Inc. now owns 492,116,917 shares of the technology company’s stock valued at $14,896,379,000 after buying an additional 6,548,263 shares in the last quarter. Morgan Stanley raised its holdings in AT&T by 4.9% in the 4th quarter. Morgan Stanley now owns 78,703,060 shares of the technology company’s stock valued at $2,263,501,000 after acquiring an additional 3,680,978 shares in the last quarter. Norges Bank bought a new stake in shares of AT&T during the 4th quarter valued at $2,019,873,000. Bank of New York Mellon Corp increased its position in shares of AT&T by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 61,404,948 shares of the technology company’s stock worth $1,766,006,000 after purchasing an additional 1,360,766 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in AT&T by 5.3% in the fourth quarter. Nuveen Asset Management LLC now owns 37,240,494 shares of the technology company’s stock valued at $1,071,036,000 after purchasing an additional 1,870,844 shares in the last quarter. 50.48% of the stock is currently owned by institutional investors.
Shares of T remained flat at $$29.18 during mid-day trading on Friday. The stock had a trading volume of 360,791 shares, compared to its average volume of 46,463,395. The firm has a 50 day simple moving average of $30.45. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a market capitalization of $208.35 billion, a P/E ratio of -83.34, a PEG ratio of 3.06 and a beta of 0.77. AT&T Inc. has a 52 week low of $26.35 and a 52 week high of $33.88.
The company also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Investors of record on Friday, April 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date was Thursday, April 8th. AT&T’s dividend payout ratio is presently 65.41%.
T has been the subject of several analyst reports. Oppenheimer restated a “hold” rating on shares of AT&T in a research report on Monday, April 26th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Friday, May 21st. Morgan Stanley reduced their price objective on AT&T from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Monday, May 24th. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $32.00 to $35.00 in a research note on Friday, May 21st. Finally, Raymond James upped their price objective on shares of AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, April 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $31.75.
In other AT&T news, CEO John T. Stankey purchased 34,614 shares of the company’s stock in a transaction on Wednesday, May 19th. The shares were purchased at an average cost of $28.81 per share, with a total value of $997,229.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Pascal Desroches purchased 3,056 shares of the business’s stock in a transaction on Wednesday, May 19th. The shares were acquired at an average price of $29.06 per share, for a total transaction of $88,807.36. Following the completion of the acquisition, the chief financial officer now directly owns 173,871 shares in the company, valued at approximately $5,052,691.26. The disclosure for this purchase can be found here. 0.08% of the stock is owned by company insiders.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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