RKL Wealth Management LLC Has $971,000 Position in AT&T Inc. (NYSE:T)

RKL Wealth Management LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,349 shares of the technology company’s stock after purchasing an additional 781 shares during the period. RKL Wealth Management LLC’s holdings in AT&T were worth $971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in AT&T during the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in shares of AT&T during the fourth quarter worth about $27,000. Ball & Co Wealth Management Inc. acquired a new stake in AT&T in the 4th quarter valued at approximately $30,000. Finally, REAP Financial Group LLC lifted its stake in AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock valued at $31,000 after acquiring an additional 727 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 3.2%

Shares of T opened at $28.97 on Tuesday. The firm has a market cap of $208.46 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 3.98 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.03. The firm’s 50-day simple moving average is $27.68 and its 200 day simple moving average is $26.01.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio is 68.10%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on T. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Royal Bank Of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. Finally, Barclays lifted their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.90.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.