Wallace Advisory Group LLC Has $600,000 Stock Position in AT&T Inc. (NYSE:T)

Wallace Advisory Group LLC decreased its position in shares of AT&T Inc. (NYSE:TFree Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,748 shares of the technology company’s stock after selling 5,122 shares during the quarter. Wallace Advisory Group LLC’s holdings in AT&T were worth $600,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Sora Investors LLC bought a new stake in shares of AT&T during the 3rd quarter worth $11,265,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of AT&T in the fourth quarter worth about $11,554,000. Provence Wealth Management Group boosted its stake in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares during the last quarter. Finally, Retireful LLC acquired a new position in AT&T during the 4th quarter worth approximately $1,163,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on T shares. UBS Group restated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Monday, April 29th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $21.54.

Read Our Latest Stock Report on AT&T

AT&T Stock Up 0.1 %

T stock traded up $0.02 during trading on Tuesday, hitting $18.67. 22,091,273 shares of the stock traded hands, compared to its average volume of 36,779,344. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The stock has a market cap of $133.87 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.73. The firm’s 50 day moving average is $17.37 and its two-hundred day moving average is $17.12.

AT&T (NYSE:TGet Free Report) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.95%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is 59.68%.

AT&T Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:TFree Report).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.