Hohimer Wealth Management LLC raised its position in AT&T Inc. (NYSE:T) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,277 shares of the technology company’s stock after buying an additional 12,159 shares during the quarter. AT&T accounts for 1.2% of Hohimer Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Hohimer Wealth Management LLC’s holdings in AT&T were worth $4,912,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Curi Capital bought a new stake in shares of AT&T during the 4th quarter valued at $25,000. Flagship Private Wealth LLC bought a new stake in shares of AT&T during the 4th quarter valued at $27,000. Clear Perspectives Financial Planning LLC bought a new stake in shares of AT&T during the 4th quarter valued at $29,000. Iron Horse Wealth Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at $31,000. Finally, Veritas Investment Partners UK Ltd. bought a new stake in shares of AT&T during the 4th quarter valued at $31,000. 51.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on T. Credit Suisse Group cut their target price on AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 19th. CIBC restated a “buy” rating on shares of AT&T in a research report on Wednesday, February 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on AT&T from $36.00 to $31.00 in a research report on Monday, February 8th. Oppenheimer restated a “market perform” rating on shares of AT&T in a research report on Wednesday, March 3rd. Finally, Morgan Stanley downgraded AT&T from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $36.00 to $34.00 in a research report on Thursday, December 17th. Four analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. AT&T presently has an average rating of “Hold” and an average target price of $31.47.
NYSE T traded down $0.05 during trading hours on Monday, hitting $29.99. 474,839 shares of the company’s stock were exchanged, compared to its average volume of 43,579,094. The stock has a 50-day simple moving average of $29.68 and a 200 day simple moving average of $28.92. AT&T Inc. has a 1-year low of $26.35 and a 1-year high of $33.24. The firm has a market cap of $213.88 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 3.04 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. The business had revenue of $45.70 billion for the quarter, compared to analyst estimates of $44.58 billion. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 3.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.94%. AT&T’s dividend payout ratio is presently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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