NewSquare Capital LLC Grows Position in AT&T Inc. (NYSE:T)

NewSquare Capital LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 8,479.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,058 shares of the technology company’s stock after buying an additional 30,696 shares during the quarter. NewSquare Capital LLC’s holdings in AT&T were worth $878,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $27,000. Marshall Investment Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $28,000. Finally, Tradewinds Capital Management LLC lifted its position in shares of 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 purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.2%

Shares of NYSE T opened at $28.09 on Monday. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03. The firm has a market capitalization of $202.12 billion, a PE ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $27.32 and a two-hundred day moving average price of $25.49.

AT&T (NYSE:T) last posted its quarterly 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). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period last year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is currently 68.10%.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Wells Fargo & Company raised their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Oppenheimer raised their target price on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. Finally, Royal Bank of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Company 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.