Maltin Wealth Management Inc. Purchases New Shares in AT&T Inc. (NYSE:T)

Maltin Wealth Management Inc. purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 8,096 shares of the technology company’s stock, valued at approximately $229,000.

Other hedge funds also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new stake in AT&T in the fourth quarter worth $27,000. Marshall Investment Management LLC bought a new stake in AT&T in the fourth quarter worth $28,000. Finally, YANKCOM Partnership bought a new stake in AT&T in the fourth quarter worth $30,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on T shares. TD Securities boosted their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. Oppenheimer upped their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Barclays upped their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Performance

Shares of T opened at $27.41 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $27.34 and a two-hundred day simple moving average of $25.38. The stock has a market cap of $197.23 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03.

AT&T (NYSE:T) last issued its quarterly earnings results 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 company had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. On average, analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is 68.10%.

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.