Wealth Enhancement Advisory Services LLC increased its position in shares of AT&T Inc. (NYSE:T) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,182 shares of the technology company’s stock after acquiring an additional 8,261 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in AT&T were worth $9,331,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. OLD Mission Capital LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at $453,000. Sage Mountain Advisors LLC bought a new stake in shares of AT&T during the 4th quarter worth about $340,000. Ironwood Wealth Management LLC. boosted its stake in shares of AT&T by 1,413.8% during the 4th quarter. Ironwood Wealth Management LLC. now owns 3,391 shares of the technology company’s stock worth $98,000 after acquiring an additional 3,167 shares in the last quarter. Camden National Bank acquired a new position in shares of AT&T during the 4th quarter valued at about $278,000. Finally, Almanack Investment Partners LLC. raised its stake in shares of AT&T by 72.4% in the 4th quarter. Almanack Investment Partners LLC. now owns 16,384 shares of the technology company’s stock valued at $471,000 after acquiring an additional 6,882 shares in the last quarter. 50.48% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:T remained flat at $$29.18 during midday trading on Friday. 360,791 shares of the stock were exchanged, compared to its average volume of 46,463,395. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.82. The stock’s 50 day simple moving average is $30.45. AT&T Inc. has a one year low of $26.35 and a one year high of $33.88. The firm has a market capitalization of $208.35 billion, a PE ratio of -83.34, a price-to-earnings-growth ratio of 3.06 and a beta of 0.77.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Friday, April 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, April 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.13%. AT&T’s payout ratio is presently 65.41%.
A number of equities analysts have recently commented on T shares. Morgan Stanley dropped their price target on shares of AT&T from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Monday, May 24th. Barclays lifted their target price on shares of AT&T from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, April 23rd. Oppenheimer reaffirmed a “hold” rating on shares of AT&T in a research report on Monday, April 26th. Raymond James boosted their price objective on AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, April 23rd. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Friday, May 21st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $31.75.
In other AT&T news, CEO John T. Stankey purchased 34,614 shares of the company’s stock in a transaction that occurred on Wednesday, May 19th. The stock was purchased at an average cost of $28.81 per share, with a total value of $997,229.34. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Pascal Desroches acquired 3,056 shares of the business’s stock in a transaction on Wednesday, May 19th. The stock was acquired at an average price of $29.06 per share, with a total value of $88,807.36. Following the transaction, the chief financial officer now owns 173,871 shares in the company, valued at approximately $5,052,691.26. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by insiders.
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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