FMB Wealth Management Acquires Shares of 7,459 AT&T Inc. (NYSE:T)

FMB Wealth Management acquired a new stake in AT&T Inc. (NYSE:T) in the first quarter, Holdings Channel.com reports. The fund acquired 7,459 shares of the technology company’s stock, valued at approximately $211,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of AT&T in the 4th quarter valued at about $1,858,418,000. GQG Partners LLC boosted its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AT&T by 31.8% in the 4th 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 last quarter. Northern Trust Corp grew its holdings in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. grew its position in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after buying an additional 9,719,036 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 0.4%

NYSE T opened at $28.32 on Thursday. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03. The business has a fifty day simple moving average of $27.35 and a 200 day simple moving average of $25.56. The firm has a market capitalization of $203.74 billion, a P/E ratio of 19.00, a PEG ratio of 3.00 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. AT&T’s payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays upped their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Royal Bank of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Cowen reissued a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a 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. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average 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.