Wealthspire Advisors LLC Buys 2,139 Shares of AT&T Inc. (NYSE:T)

Wealthspire Advisors LLC raised its stake in AT&T Inc. (NYSE:T) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,924 shares of the technology company’s stock after acquiring an additional 2,139 shares during the period. Wealthspire Advisors LLC’s holdings in AT&T were worth $1,945,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Catalyst Financial Partners LLC grew its holdings in shares of AT&T by 8.6% during the fourth quarter. Catalyst Financial Partners LLC now owns 20,006 shares of the technology company’s stock worth $336,000 after purchasing an additional 1,586 shares during the last quarter. National Pension Service grew its holdings in shares of AT&T by 2.0% during the fourth quarter. National Pension Service now owns 13,288,624 shares of the technology company’s stock worth $222,983,000 after purchasing an additional 257,978 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in shares of AT&T during the fourth quarter worth $204,000. EdgeRock Capital LLC bought a new stake in shares of AT&T during the fourth quarter worth $61,000. Finally, Hyman Charles D grew its holdings in shares of AT&T by 184.9% during the fourth quarter. Hyman Charles D now owns 100,386 shares of the technology company’s stock worth $1,684,000 after purchasing an additional 65,156 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on T. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Citigroup upped their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Scotiabank upped their price objective on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Stock Performance

Shares of AT&T stock traded up $0.07 during trading hours on Thursday, reaching $17.18. 22,541,685 shares of the stock traded hands, compared to its average volume of 38,480,242. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. The firm has a market capitalization of $123.18 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average price of $16.98 and a 200 day moving average price of $16.70.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the company earned $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 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.