Prestige Wealth Management Group LLC Acquires 7,024 Shares of AT&T Inc. (NYSE:T)

Prestige Wealth Management Group LLC raised its holdings in AT&T Inc. (NYSE:TFree Report) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,079 shares of the technology company’s stock after purchasing an additional 7,024 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in AT&T were worth $857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of T. Sora Investors LLC bought a new stake in AT&T during the 3rd quarter worth approximately $11,265,000. Provence Wealth Management Group increased its holdings in AT&T by 55.8% in the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after acquiring an additional 1,178 shares in the last quarter. Retireful LLC bought a new position in shares of AT&T during the 4th quarter worth about $1,163,000. Finally, Brighton Jones LLC boosted its holdings in AT&T by 12.6% in the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after acquiring an additional 5,161 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.6 %

Shares of T stock traded up $0.10 on Friday, hitting $17.40. 25,891,151 shares of the company’s stock traded hands, compared to its average volume of 35,199,848. The stock has a market capitalization of $124.76 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 3.40 and a beta of 0.57. The company’s fifty day simple moving average is $17.02 and its 200 day simple moving average is $16.80. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. 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:TGet Free Report) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Equities analysts forecast that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The firm 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 dividend yield of 6.38%. AT&T’s payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Tigress Financial lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Friday, January 19th. Finally, Wolfe Research upgraded 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 report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

Check Out Our Latest Report on T

About AT&T

(Free Report)

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.

See Also

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

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