RWA Wealth Partners LLC Acquires 55,561 Shares of AT&T Inc. (NYSE:T)

RWA Wealth Partners LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 60.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,145 shares of the technology company’s stock after acquiring an additional 55,561 shares during the quarter. RWA Wealth Partners LLC’s holdings in AT&T were worth $2,486,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Carmel Capital Partners LLC increased its position in 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 worth $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new stake in AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T in the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. increased its position in AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 2,626 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T stock opened at $16.51 on Wednesday. The stock has a market capitalization of $118.09 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $16.54.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (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 the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.72%. AT&T’s payout ratio is 56.63%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on T. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Tigress Financial lifted their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

About AT&T

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.