AT&T Inc. (NYSE:T) Position Increased by Provence Wealth Management Group

Provence Wealth Management Group raised its position in shares of AT&T Inc. (NYSE:T) by 55.8% in the fourth quarter, Holdings Channel reports. The firm owned 16,217 shares of the technology company’s stock after buying an additional 5,807 shares during the period. Provence Wealth Management Group’s holdings in AT&T were worth $272,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Carmel Capital Partners LLC boosted its stake in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,625 shares in the last quarter. Lipe & Dalton acquired a new stake in shares of AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. bought a new stake in shares of AT&T during the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC raised its holdings in AT&T by 588.2% in the 4th quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after acquiring an additional 2,241 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock traded up $0.03 during mid-day trading on Friday, reaching $16.85. 24,023,192 shares of the stock were exchanged, compared to its average volume of 41,324,028. The company has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 3.31 and a beta of 0.57. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The firm has a 50-day simple moving average of $16.97 and a 200 day simple moving average of $16.64.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on T shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Tigress Financial raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Friday, January 19th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft increased 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Company Profile

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.