AT&T Inc. (NYSE:T) Shares Bought by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 6.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 500,114 shares of the technology company’s stock after acquiring an additional 30,480 shares during the period. AT&T comprises about 1.4% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Alpha Omega Wealth Management LLC’s holdings in AT&T were worth $8,392,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of T. Carmel Capital Partners LLC raised its position in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new stake in shares of AT&T in the third quarter valued at about $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T in the third quarter valued at about $30,000. FWL Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at about $31,000. Finally, Financial Freedom LLC purchased a new position in AT&T during the fourth quarter worth about $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T traded down $0.15 during midday trading on Wednesday, reaching $16.09. The stock had a trading volume of 56,368,796 shares, compared to its average volume of 32,633,924. The firm has a fifty day simple moving average of $17.04 and a two-hundred 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 stock has a market cap of $115.09 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.45 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly 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 business had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. On average, equities analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on T shares. Royal Bank of Canada reaffirmed 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 raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Citigroup increased their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $20.68.

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.