FMB Wealth Management Buys Shares of 7,459 AT&T Inc. (NYSE:T)

FMB Wealth Management acquired a new stake in AT&T Inc. (NYSE:T) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,459 shares of the technology company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Consolidated Planning Corp lifted its position in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares in the last quarter. Keystone Financial Group grew its stake in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after acquiring an additional 143,744 shares during the period. World Investment Advisors increased its stake in AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after purchasing an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. lifted its position in AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares in the last quarter. Finally, Fortress Financial Solutions LLC bought a new position in shares of AT&T during the fourth quarter worth about $691,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $28.32 on Thursday. The firm has a market capitalization of $203.74 billion, a P/E ratio of 19.00, a P/E/G ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a 50 day moving average price of $27.35 and a 200 day moving average price of $25.56.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same period last year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Williams Trading set a $30.00 price target on AT&T in a research report on Thursday, April 24th. Royal Bank of Canada increased their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. TD Securities lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Tigress Financial boosted their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.