Connecticut Wealth Management LLC Increases Position in AT&T Inc. (NYSE:T)

Connecticut Wealth Management LLC boosted its position in AT&T Inc. (NYSE:T) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,601 shares of the technology company’s stock after buying an additional 620 shares during the quarter. Connecticut Wealth Management LLC’s holdings in AT&T were worth $362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Sora Investors LLC bought a new stake in AT&T during the 3rd quarter valued at $11,265,000. Provence Wealth Management Group increased its holdings in shares of AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after purchasing an additional 1,178 shares during the period. Retireful LLC acquired a new position in shares of AT&T during the fourth quarter valued at $1,163,000. Finally, Brighton Jones LLC increased its holdings in shares of AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after purchasing an additional 5,161 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

NYSE T traded up $0.07 during trading on Monday, hitting $16.92. The company’s stock had a trading volume of 13,654,611 shares, compared to its average volume of 38,808,977. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average price of $16.97 and a 200 day moving average price of $16.67. The firm has a market cap of $121.32 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16.

AT&T (NYSE:T) last issued its quarterly 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 company 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%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. Equities research analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on T. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Scotiabank increased their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Finally, Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T 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.