Element Wealth LLC Increases Holdings in AT&T Inc. (NYSE:T)

Element Wealth LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,951 shares of the technology company’s stock after buying an additional 876 shares during the period. Element Wealth LLC’s holdings in AT&T were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Sora Investors LLC acquired a new stake in AT&T during the 3rd quarter worth approximately $11,265,000. Robeco Institutional Asset Management B.V. grew its position in AT&T by 2.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock valued at $259,219,000 after acquiring an additional 383,015 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in AT&T by 3.1% in the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after acquiring an additional 1,178 shares in the last quarter. Retireful LLC bought a new stake in shares of AT&T during the 4th quarter valued at $1,163,000. Finally, Terril Brothers Inc. raised its position in shares of AT&T by 51.6% in the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock worth $8,937,000 after purchasing an additional 202,637 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, March 5th. Tigress Financial increased 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. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

AT&T Trading Up 1.2 %

Shares of NYSE:T traded up $0.19 during midday trading on Tuesday, reaching $16.50. The company’s stock had a trading volume of 47,732,341 shares, compared to its average volume of 38,894,828. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a 50 day moving average price of $16.99 and a two-hundred day moving average price of $16.53. The firm has a market capitalization of $118.02 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 2.49 and a beta of 0.57. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16.

AT&T (NYSE:T) last released its quarterly 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). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.73%. AT&T’s dividend payout ratio (DPR) is 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.