Wheelhouse Advisory Group LLC Makes New Investment in AT&T Inc. (NYSE:T)

Wheelhouse Advisory Group LLC purchased a new position in AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,764 shares of the technology company’s stock, valued at approximately $432,000. AT&T comprises 0.4% of Wheelhouse Advisory Group LLC’s holdings, making the stock its 26th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after purchasing an additional 76,746,649 shares in the last quarter. Norges Bank purchased a new position in AT&T during the 4th quarter worth approximately $1,229,499,000. Ameriprise Financial Inc. grew its position in AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. FMR LLC grew its position in AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after purchasing an additional 32,558,342 shares in the last quarter. Finally, Morgan Stanley grew its position in AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays lifted their target price on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Finally, StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

AT&T Stock Performance

Shares of NYSE:T traded down $0.03 on Friday, hitting $16.30. 21,871,755 shares of the company were exchanged, compared to its average volume of 38,252,266. The company’s 50 day moving average price is $17.01 and its two-hundred day moving average price is $16.48. AT&T Inc. has a one year low of $13.43 and a one year high of $18.72. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market capitalization of $116.59 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 2.43 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.81%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.