Rialto Wealth Management LLC Has $120,000 Position in AT&T Inc. (NYSE:T)

Rialto Wealth Management LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 23.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,258 shares of the technology company’s stock after buying an additional 815 shares during the period. Rialto Wealth Management LLC’s holdings in AT&T were worth $120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Carolinas Wealth Consulting LLC raised its holdings in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after acquiring an additional 384 shares in the last quarter. Buska Wealth Management LLC raised its holdings in AT&T by 3.2% during the fourth quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock worth $305,000 after acquiring an additional 412 shares in the last quarter. 1620 Investment Advisors Inc. raised its holdings in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after acquiring an additional 421 shares in the last quarter. Tradewinds Capital Management LLC raised its holdings in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Finally, BNP Paribas raised its holdings in AT&T by 1.0% during the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock worth $942,000 after acquiring an additional 430 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T opened at $27.94 on Tuesday. The firm has a market cap of $201.04 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $17.42 and a 1-year high of $29.03. The business’s 50 day moving average is $27.36 and its 200-day moving average is $25.35.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.97%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

T has been the topic of several analyst reports. Barclays upped their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Royal Bank of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on AT&T in a research note on Thursday, April 24th. Finally, Wells Fargo & Company upped their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock 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.