Spire Wealth Management Boosts Holdings in AT&T Inc. (NYSE:T)

Spire Wealth Management raised its holdings in AT&T Inc. (NYSE:T) by 71.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,308 shares of the technology company’s stock after purchasing an additional 33,123 shares during the quarter. Spire Wealth Management’s holdings in AT&T were worth $2,243,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Keystone Financial Group boosted its stake in shares of AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC purchased a new stake in shares of AT&T during the 1st quarter worth about $201,000. World Investment Advisors boosted its stake in shares of AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after acquiring an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. boosted its stake in shares of AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after acquiring an additional 365,776 shares in the last quarter. Finally, West Family Investments Inc. boosted its stake in shares of AT&T by 70.4% during the 4th quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock worth $864,000 after acquiring an additional 15,680 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on T shares. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Royal Bank Of Canada increased their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. UBS Group restated a “buy” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $28.76.

AT&T Stock Performance

NYSE:T opened at $28.04 on Friday. The company has a fifty day simple moving average of $27.61 and a two-hundred day simple moving average of $25.91. The company has a market cap of $201.73 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 3.96 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.03.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.96%. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

About AT&T

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.