GSB Wealth Management LLC Acquires 1,046 Shares of AT&T Inc. (NYSE:T)

GSB Wealth Management LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 8.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,796 shares of the technology company’s stock after purchasing an additional 1,046 shares during the quarter. GSB Wealth Management LLC’s holdings in AT&T were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC boosted its position in shares of AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares during the period. GQG Partners LLC boosted its position in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, Norges Bank bought a new position in shares of AT&T in the fourth quarter valued at approximately $1,858,418,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Barclays raised their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Evercore ISI raised their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Williams Trading set a $30.00 price objective on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Trading Down 1.2%

Shares of AT&T stock opened at $27.65 on Wednesday. AT&T Inc. has a 1 year low of $17.86 and a 1 year high of $29.03. The firm has a market cap of $198.92 billion, a PE ratio of 16.96, a PEG ratio of 3.89 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The company has a 50 day simple moving average of $27.47 and a two-hundred day simple moving average of $25.71.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared 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. This represents a $1.11 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

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.