Ritholtz Wealth Management Acquires 23,393 Shares of AT&T Inc. (NYSE:T)

Ritholtz Wealth Management increased its holdings in shares of AT&T Inc. (NYSE:T) by 13.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 194,537 shares of the technology company’s stock after acquiring an additional 23,393 shares during the quarter. Ritholtz Wealth Management’s holdings in AT&T were worth $5,502,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Keystone Financial Group lifted its holdings in AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after acquiring an additional 143,744 shares during the period. Capstone Wealth Management LLC bought a new stake in shares of AT&T in the first quarter valued at $201,000. World Investment Advisors raised its stake in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after buying an additional 63,359 shares during the period. DigitalBridge Group Inc. raised its stake in shares of AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after buying an additional 365,776 shares during the period. Finally, West Family Investments Inc. raised its stake in shares of AT&T by 70.4% in the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock valued at $864,000 after buying an additional 15,680 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $28.13 on Friday. AT&T Inc. has a 52 week low of $17.49 and a 52 week high of $29.03. The business has a 50-day simple moving average of $27.41 and a 200 day simple moving average of $25.64. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $202.43 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (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 firm had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. AT&T’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on T shares. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI boosted their target price on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. Royal Bank of Canada boosted their target price on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.