Wealthspire Advisors LLC Buys 2,139 Shares of AT&T Inc. (NYSE:T)

Wealthspire Advisors LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 115,924 shares of the technology company’s stock after buying an additional 2,139 shares during the period. Wealthspire Advisors LLC’s holdings in AT&T were worth $1,945,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Newport Trust Company LLC increased its holdings in shares of AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the period. Northern Trust Corp increased its stake in AT&T by 2.5% in the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after buying an additional 1,828,237 shares in the last quarter. FMR LLC boosted its position in shares of AT&T by 130.5% during the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after acquiring an additional 32,558,342 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of AT&T by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after acquiring an additional 798,024 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several analyst reports. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Citigroup upped their price objective 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Stock Up 0.4 %

AT&T stock traded up $0.07 during midday trading on Thursday, hitting $17.18. The stock had a trading volume of 22,541,685 shares, compared to its average volume of 38,480,242. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average price of $16.98 and a 200 day moving average price of $16.70. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The stock has a market cap of $123.18 billion, a P/E ratio of 9.24, a P/E/G ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.46%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

About AT&T

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.