AT&T Inc. (NYSE:T) Shares Bought by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 22.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,813 shares of the technology company’s stock after purchasing an additional 3,822 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in AT&T were worth $589,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC grew its position in AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC grew its position in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Bank of New York Mellon Corp grew its position in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new stake in shares of AT&T during the 4th quarter worth about $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer increased their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Barclays increased their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

Shares of T opened at $28.09 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market capitalization of $202.12 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41. The company’s 50 day simple moving average is $27.32 and its 200 day simple moving average is $25.49. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (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 13.97% and a net margin of 8.95%. AT&T’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. AT&T’s payout ratio is currently 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.