Olde Wealth Management LLC Acquires New Holdings in AT&T Inc. (NYSE:T)

Olde Wealth Management LLC acquired a new stake in shares of AT&T Inc. (NYSE:T) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,140 shares of the technology company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Minot DeBlois Advisors LLC bought a new stake in AT&T in the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new stake in AT&T in the fourth quarter worth about $27,000. Ball & Co Wealth Management Inc. bought a new stake in AT&T in the fourth quarter worth about $30,000. Finally, REAP Financial Group LLC raised its position in AT&T by 115.2% in the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock worth $31,000 after acquiring an additional 727 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the topic of several research reports. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Oppenheimer boosted their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Scotiabank reiterated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.90.

AT&T Trading Up 0.1%

NYSE:T opened at $28.33 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The stock’s 50-day moving average is $27.79 and its two-hundred day moving average is $26.12. The stock has a market cap of $203.82 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period last year, the firm earned $0.55 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.