Rialto Wealth Management LLC Purchases New Shares in AT&T Inc. (NYSE:T)

Rialto Wealth Management LLC acquired a new position in shares of AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,443 shares of the technology company’s stock, valued at approximately $78,000.

A number of other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in AT&T in the 3rd quarter valued at $62,000. M&G PLC bought a new position in shares of AT&T in the third quarter worth about $1,007,000. Leavell Investment Management Inc. increased its stake in AT&T by 15.7% in the 3rd quarter. Leavell Investment Management Inc. now owns 50,640 shares of the technology company’s stock worth $1,114,000 after buying an additional 6,853 shares during the period. Equitable Trust Co. lifted its holdings in AT&T by 81.6% during the 3rd quarter. Equitable Trust Co. now owns 25,703 shares of the technology company’s stock valued at $565,000 after buying an additional 11,552 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in AT&T during the 3rd quarter valued at about $718,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.6 %

AT&T stock opened at $27.15 on Friday. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The stock has a market cap of $194.85 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a 50-day moving average of $24.30 and a two-hundred day moving average of $22.82.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

Analyst Upgrades and Downgrades

T has been the topic of a number of research analyst reports. Barclays upped their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Tigress Financial raised their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. The Goldman Sachs Group upped their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.74.

About AT&T

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.