AT&T Inc. (NYSE:T) Stock Position Raised by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC raised its position in shares of AT&T Inc. (NYSE:T) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,114 shares of the technology company’s stock after purchasing an additional 30,480 shares during the period. AT&T accounts for about 1.4% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 13th largest position. Alpha Omega Wealth Management LLC’s holdings in AT&T were worth $8,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of AT&T in the 4th quarter valued at $454,000. Scissortail Wealth Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $1,742,000. Tyche Wealth Partners LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $1,029,000. Ergawealth Advisors Inc. increased its stake in shares of AT&T by 7.2% in the 4th quarter. Ergawealth Advisors Inc. now owns 11,116 shares of the technology company’s stock valued at $187,000 after buying an additional 747 shares during the period. Finally, Octavia Wealth Advisors LLC increased its holdings in shares of AT&T by 2.9% in the fourth quarter. Octavia Wealth Advisors LLC now owns 35,571 shares of the technology company’s stock worth $597,000 after acquiring an additional 1,019 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 0.9 %

NYSE T traded down $0.15 during trading hours on Wednesday, hitting $16.09. 56,368,796 shares of the company traded hands, compared to its average volume of 32,633,924. The stock has a market capitalization of $115.09 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 2.45 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.92. The business’s 50-day moving average is $17.04 and its 200-day moving average is $16.48.

AT&T (NYSE:T) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. AT&T’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.90%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Analysts Set New Price Targets

Several brokerages have issued reports on T. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Tigress Financial increased their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.68.

About AT&T

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.