Wheelhouse Advisory Group LLC Purchases Shares of 25,764 AT&T Inc. (NYSE:T)

Wheelhouse Advisory Group LLC purchased a new stake in AT&T Inc. (NYSE:T) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 25,764 shares of the technology company’s stock, valued at approximately $432,000. AT&T comprises about 0.4% of Wheelhouse Advisory Group LLC’s investment portfolio, making the stock its 26th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of AT&T by 0.5% during the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after buying an additional 1,567,008 shares during the last quarter. Newport Trust Company LLC lifted its stake in shares of AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the last quarter. Morgan Stanley lifted its stake in shares of AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after buying an additional 29,769,976 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after buying an additional 1,828,237 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on T. Barclays raised their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Friday, January 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Finally, Citigroup boosted their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $20.68.

AT&T Price Performance

Shares of AT&T stock traded down $0.03 on Friday, reaching $16.30. 21,871,755 shares of the stock were exchanged, compared to its average volume of 38,252,266. The firm’s 50 day moving average is $17.01 and its 200-day moving average is $16.48. AT&T Inc. has a one year low of $13.43 and a one year high of $18.72. 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 market cap of $116.59 billion, a PE ratio of 8.33, a P/E/G ratio of 2.43 and a beta of 0.57.

AT&T (NYSE:T) last issued 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 return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same period last year, the company posted $0.61 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio 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.