Falcon Wealth Planning Acquires New Stake in AT&T Inc. (NYSE:T)

Falcon Wealth Planning bought a new position in AT&T Inc. (NYSE:T) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,428 shares of the technology company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently modified their holdings of T. Capital A Wealth Management LLC purchased a new position in AT&T in the 4th quarter worth approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the fourth quarter worth $27,000. Ball & Co Wealth Management Inc. bought a new position in shares of AT&T during the fourth quarter valued at $30,000. Finally, REAP Financial Group LLC lifted its holdings in shares of AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock valued at $31,000 after purchasing an additional 727 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on T shares. TD Securities lifted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Royal Bank Of Canada boosted their price objective 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. Tigress Financial raised their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Barclays lifted their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.76.

AT&T Trading Up 0.4%

AT&T stock opened at $28.04 on Friday. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The firm has a market capitalization of $201.73 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.96 and a beta of 0.41. The firm has a 50 day moving average of $27.61 and a 200 day moving average of $25.91. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous 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, research 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 disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.96%. AT&T’s payout ratio is 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.