1900 Wealth Management LLC Has $263,000 Stake in AT&T Inc. (NYSE:T)

1900 Wealth Management LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 24.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,959 shares of the technology company’s stock after buying an additional 2,950 shares during the period. 1900 Wealth Management LLC’s holdings in AT&T were worth $263,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Premier Path Wealth Partners LLC boosted its holdings in AT&T by 9.0% during the first quarter. Premier Path Wealth Partners LLC now owns 116,754 shares of the technology company’s stock worth $2,050,000 after buying an additional 9,610 shares during the last quarter. Dakota Wealth Management boosted its stake in AT&T by 40.3% during the 1st quarter. Dakota Wealth Management now owns 79,246 shares of the technology company’s stock worth $1,395,000 after acquiring an additional 22,746 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in AT&T during the 1st quarter worth approximately $968,000. Simplicity Wealth LLC acquired a new position in AT&T during the first quarter valued at approximately $4,514,000. Finally, NBT Bank N A NY increased its stake in AT&T by 0.8% in the first quarter. NBT Bank N A NY now owns 121,567 shares of the technology company’s stock valued at $2,140,000 after purchasing an additional 912 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on T. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Performance

T stock traded up $0.23 during mid-day trading on Wednesday, hitting $17.50. 30,330,165 shares of the company were exchanged, compared to its average volume of 37,434,523. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The stock has a market capitalization of $125.48 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. The business has a 50 day simple moving average of $17.03 and a 200-day simple moving average of $16.84. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted 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 firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the business earned $0.60 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.34%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T 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.