Wealth Alliance Has $1.80 Million Stock Position in AT&T Inc. (NYSE:T)

Wealth Alliance trimmed its stake in AT&T Inc. (NYSE:T) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,255 shares of the technology company’s stock after selling 12,856 shares during the quarter. Wealth Alliance’s holdings in AT&T were worth $1,800,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in T. Octavia Wealth Advisors LLC boosted its stake in AT&T by 2.9% in the 4th quarter. Octavia Wealth Advisors LLC now owns 35,571 shares of the technology company’s stock valued at $597,000 after purchasing an additional 1,019 shares during the period. Investment Advisory Group LLC grew its stake in shares of AT&T by 5.4% in the fourth quarter. Investment Advisory Group LLC now owns 24,126 shares of the technology company’s stock valued at $405,000 after acquiring an additional 1,241 shares in the last quarter. United Asset Strategies Inc. increased its position in AT&T by 19.0% during the fourth quarter. United Asset Strategies Inc. now owns 15,639 shares of the technology company’s stock worth $262,000 after acquiring an additional 2,495 shares during the period. SVB Wealth LLC raised its stake in AT&T by 38.3% in the 4th quarter. SVB Wealth LLC now owns 154,127 shares of the technology company’s stock worth $2,586,000 after purchasing an additional 42,686 shares in the last quarter. Finally, LifePlan Financial LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $467,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on T shares. Tigress Financial boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Citigroup lifted their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.68.

AT&T Stock Down 1.1 %

Shares of T stock traded down $0.18 during trading hours on Tuesday, reaching $16.06. The company had a trading volume of 30,858,401 shares, compared to its average volume of 38,393,629. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The business has a fifty day simple moving average of $17.07 and a 200-day simple moving average of $16.48. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.92. The company has a market cap of $114.87 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 EPS. On average, research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.91%. AT&T’s payout ratio is currently 56.63%.

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.