Aprio Wealth Management LLC Buys 3,916 Shares of AT&T Inc. (NYSE:T)

Aprio Wealth Management LLC increased its position in shares of AT&T Inc. (NYSE:T) by 25.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,174 shares of the technology company’s stock after buying an additional 3,916 shares during the quarter. Aprio Wealth Management LLC’s holdings in AT&T were worth $337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sora Investors LLC bought a new position in shares of AT&T during the third quarter valued at $11,265,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in AT&T in the fourth quarter valued at about $11,554,000. Provence Wealth Management Group grew its stake in AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after buying an additional 5,807 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of AT&T by 250.3% during the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares in the last quarter. Finally, Retireful LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $1,163,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 1.6 %

NYSE T opened at $18.41 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.45. The company has a market capitalization of $131.97 billion, a PE ratio of 9.90, a P/E/G ratio of 3.56 and a beta of 0.60. The stock has a 50-day simple moving average of $17.32 and a 200 day simple moving average of $17.11.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the prior year, the business posted $0.60 EPS. AT&T’s revenue was down .4% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.03%. AT&T’s dividend payout ratio is 59.68%.

Analyst Ratings Changes

A number of research firms recently weighed in on T. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Finally, StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.54.

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.