Finer Wealth Management Inc. Purchases 4,225 Shares of AT&T Inc. (NYSE:T)

Finer Wealth Management Inc. increased its position in AT&T Inc. (NYSE:T) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,437 shares of the technology company’s stock after acquiring an additional 4,225 shares during the period. AT&T comprises about 1.8% of Finer Wealth Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Finer Wealth Management Inc.’s holdings in AT&T were worth $2,982,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of T. Vanguard Group Inc. grew its holdings in AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares during the period. Northern Trust Corp grew its holdings in AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Capital World Investors grew its holdings in AT&T by 5.2% during the fourth quarter. Capital World Investors now owns 57,425,387 shares of the technology company’s stock valued at $1,307,576,000 after purchasing an additional 2,841,837 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in AT&T by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 52,032,367 shares of the technology company’s stock valued at $1,184,717,000 after purchasing an additional 2,992,073 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $28.15 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $201.28 billion, a P/E ratio of 15.99, a P/E/G ratio of 3.48 and a beta of 0.42. AT&T Inc. has a 12 month low of $18.97 and a 12 month high of $29.19. The business’s 50-day moving average is $27.84 and its 200 day moving average is $27.11.

AT&T (NYSE:T) last issued its quarterly earnings data 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 in the prior year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T’s dividend payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on T. Bank of America started coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price target for the company. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, Scotiabank boosted their price objective on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. One 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.66.

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.