Wedmont Private Capital Acquires 3,060 Shares of AT&T Inc. (NYSE:T)

Wedmont Private Capital lifted its position in AT&T Inc. (NYSE:T) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,360 shares of the technology company’s stock after buying an additional 3,060 shares during the period. Wedmont Private Capital’s holdings in AT&T were worth $936,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T in the 4th quarter valued at $25,000. Pineridge Advisors LLC acquired a new position in AT&T in the 4th quarter worth $25,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new position in AT&T in the 4th quarter worth $39,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Scotiabank upped their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.54.

AT&T Trading Up 1.6 %

Shares of NYSE:T opened at $18.41 on Friday. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.45. The company has a market capitalization of $131.97 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 3.56 and a beta of 0.60. The company has a 50-day simple moving average of $17.32 and a 200 day simple moving average of $17.11. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period last year, the business posted $0.60 EPS. AT&T’s revenue was down .4% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.03%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.