Omnia Family Wealth LLC Buys New Position in AT&T Inc. (NYSE:T)

Omnia Family Wealth LLC bought a new stake in shares of AT&T Inc. (NYSE:T) in the first quarter, Holdings Channel reports. The firm bought 10,417 shares of the technology company’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of T. Capital A Wealth Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $27,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $30,000. Finally, REAP Financial Group LLC increased its position in shares of AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock valued at $31,000 after purchasing an additional 727 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Oppenheimer increased their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. UBS Group reissued a “buy” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. Wells Fargo & Company increased their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.76.

AT&T Stock Down 1.2%

Shares of NYSE:T opened at $27.93 on Thursday. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03. The company has a 50 day moving average of $27.59 and a 200-day moving average of $25.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock has a market cap of $200.97 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 4.01 and a beta of 0.41.

AT&T (NYSE:T) last released its quarterly earnings data 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 return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.97%. AT&T’s dividend payout ratio is presently 68.10%.

About AT&T

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.