Code Waechter LLC Takes $418,000 Position in AT&T Inc. (NYSE:T)

Code Waechter LLC acquired a new stake in AT&T Inc. (NYSE:T) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,786 shares of the technology company’s stock, valued at approximately $418,000.

Several other hedge funds and other institutional investors have also modified their holdings of T. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $27,000. Core Alternative Capital raised its holdings in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares during the period. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of AT&T during the 4th quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays raised their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Tigress Financial lifted their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Scotiabank restated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Finally, TD Securities lifted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.05.

AT&T Price Performance

Shares of T opened at $28.11 on Thursday. The firm has a market cap of $202.27 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.53 and a beta of 0.42. The stock has a 50 day moving average of $27.84 and a 200-day moving average of $26.24. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.19.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the business posted $0.55 EPS. AT&T’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T’s dividend payout ratio is currently 68.10%.

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.