AT&T Inc. (NYSE:T) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in AT&T Inc. (NYSE:T) by 26.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,606 shares of the technology company’s stock after purchasing an additional 54,428 shares during the period. Axxcess Wealth Management LLC’s holdings in AT&T were worth $4,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sora Investors LLC acquired a new position in AT&T during the 3rd quarter worth approximately $11,265,000. Checchi Capital Advisers LLC increased its holdings in AT&T by 3.1% during the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after purchasing an additional 1,178 shares during the last quarter. Retireful LLC purchased a new position in shares of AT&T during the 4th quarter valued at approximately $1,163,000. Brighton Jones LLC grew its position in shares of AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after buying an additional 5,161 shares in the last quarter. Finally, Terril Brothers Inc. raised its holdings in AT&T by 51.6% in the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after acquiring an additional 202,637 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.2 %

NYSE T traded up $0.03 on Friday, reaching $16.85. The stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The business has a 50 day moving average price of $16.97 and a 200 day moving average price of $16.64. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a market capitalization of $120.52 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 3.31 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.59%. AT&T’s dividend payout ratio is presently 59.68%.

Analysts Set New Price Targets

T has been the topic of several research reports. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Tigress Financial upped their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Company Profile

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.