Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 14.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,770 shares of the technology company’s stock after buying an additional 8,770 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in AT&T were worth $2,178,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Waterfront Wealth Inc. raised its position in AT&T by 1.6% in the first quarter. Waterfront Wealth Inc. now owns 21,065 shares of the technology company’s stock worth $642,000 after acquiring an additional 331 shares during the period. Hemington Wealth Management raised its position in shares of AT&T by 1.1% during the 1st quarter. Hemington Wealth Management now owns 31,589 shares of the technology company’s stock valued at $956,000 after purchasing an additional 349 shares during the period. TAP Consulting LLC raised its position in shares of AT&T by 4.6% during the 4th quarter. TAP Consulting LLC now owns 8,008 shares of the technology company’s stock valued at $230,000 after purchasing an additional 354 shares during the period. HYA Advisors Inc raised its position in shares of AT&T by 1.6% during the 1st quarter. HYA Advisors Inc now owns 22,008 shares of the technology company’s stock valued at $666,000 after purchasing an additional 357 shares during the period. Finally, Horizon Investment Services LLC raised its position in shares of AT&T by 5.0% during the 4th quarter. Horizon Investment Services LLC now owns 7,820 shares of the technology company’s stock valued at $225,000 after purchasing an additional 375 shares during the period. Hedge funds and other institutional investors own 51.17% of the company’s stock.
T has been the subject of several research analyst reports. Credit Suisse Group cut their target price on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 19th. CIBC reissued a “buy” rating on shares of AT&T in a research note on Wednesday, February 10th. Raymond James lifted their price objective on shares of AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Oppenheimer reissued a “hold” rating on shares of AT&T in a research note on Monday, April 26th. Finally, Barclays lifted their price objective on shares of AT&T from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, April 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $31.43.
AT&T (NYSE:T) last announced its earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The company had revenue of $43.90 billion during the quarter, compared to analyst estimates of $42.69 billion. AT&T had a net margin of 6.42% and a return on equity of 12.27%. AT&T’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 3.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Friday, April 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend was Thursday, April 8th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
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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