Walled Lake Planning & Wealth Management LLC Takes Position in AT&T Inc. (NYSE:T)

Walled Lake Planning & Wealth Management LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,277 shares of the technology company’s stock, valued at approximately $234,000.

A number of other large investors also recently modified their holdings of T. Minot DeBlois Advisors LLC purchased a new stake in AT&T in the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T in the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new stake in AT&T in the fourth quarter worth $27,000. Hager Investment Management Services LLC grew its stake in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the period. Finally, Core Alternative Capital grew its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 1.4%

Shares of NYSE:T opened at $27.61 on Tuesday. AT&T Inc. has a 12-month low of $18.64 and a 12-month high of $29.19. The business’s fifty day simple moving average is $27.80 and its 200-day simple moving average is $26.72. The company has a market capitalization of $198.67 billion, a PE ratio of 15.69, a P/E/G ratio of 3.49 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the business posted $0.51 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.02%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on T shares. Barclays upped their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Oppenheimer upped their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. TD Securities upped their price target on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Finally, Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $29.66.

About AT&T

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.