AT&T Inc. (NYSE:T) Shares Acquired by Waverly Advisors LLC

Waverly Advisors LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 30.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,283 shares of the technology company’s stock after purchasing an additional 64,804 shares during the period. Waverly Advisors LLC’s holdings in AT&T were worth $4,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in T. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in AT&T in the fourth quarter valued at approximately $11,554,000. Provence Wealth Management Group raised its position in AT&T by 55.8% in the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares during the period. Clearbridge Investments LLC raised its position in AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares during the period. Retireful LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $1,163,000. Finally, Brighton Jones LLC raised its position in AT&T by 12.6% in the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after purchasing an additional 5,161 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of NYSE:T traded up $0.06 on Tuesday, reaching $18.96. The company’s stock had a trading volume of 13,631,250 shares, compared to its average volume of 36,629,078. The stock’s 50-day moving average is $18.35 and its two-hundred day moving average is $17.49. AT&T Inc. has a 52-week low of $13.89 and a 52-week high of $19.74. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $135.95 billion, a P/E ratio of 10.19, a PEG ratio of 3.22 and a beta of 0.58.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.85%. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on T. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Oppenheimer boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Scotiabank boosted their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.33.

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.