Wealth Advisors Inc. Acquires Shares of 7,636 AT&T Inc. (NYSE:T)

Wealth Advisors Inc. bought a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,636 shares of the technology company’s stock, valued at approximately $292,000.

Other hedge funds have also recently added to or reduced their stakes in the company. TFO TDC LLC bought a new stake in shares of AT&T during the fourth quarter worth $27,000. grace capital bought a new stake in shares of AT&T during the fourth quarter worth $39,000. Lionsbridge Wealth Management LLC bought a new stake in shares of AT&T during the fourth quarter worth $39,000. Evolution Wealth Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth $41,000. Finally, Litman Gregory Asset Management LLC raised its position in shares of AT&T by 229.1% during the fourth quarter. Litman Gregory Asset Management LLC now owns 1,175 shares of the technology company’s stock worth $46,000 after acquiring an additional 818 shares during the last quarter. Institutional investors own 56.10% of the company’s stock.

Shares of T stock traded down $0.92 on Tuesday, hitting $29.31. 25,806,801 shares of the stock were exchanged, compared to its average volume of 65,552,884. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $213.98 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.51 and a beta of 0.64. The business has a 50-day moving average of $35.13 and a 200 day moving average of $37.41. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. AT&T had a return on equity of 13.37% and a net margin of 7.67%. The company had revenue of $46.82 billion during the quarter, compared to analysts’ expectations of $47.06 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. AT&T’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 3.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Thursday, April 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.10%. AT&T’s payout ratio is presently 58.26%.

A number of equities research analysts recently commented on the company. Citigroup dropped their price objective on AT&T from $42.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Deutsche Bank assumed coverage on AT&T in a report on Wednesday, January 22nd. They issued a “buy” rating and a $44.00 price objective for the company. Cowen downgraded AT&T from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $43.00 to $37.00 in a report on Monday, March 23rd. Nomura dropped their price objective on AT&T from $44.00 to $39.00 and set a “buy” rating for the company in a report on Monday. Finally, Tigress Financial reiterated a “buy” rating on shares of AT&T in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.93.

In related news, Director Stephen J. Luczo bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $37.81 per share, for a total transaction of $3,781,000.00. Corporate insiders own 0.07% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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