Angeles Wealth Management LLC Takes $266,000 Position in AT&T Inc. (NYSE:T)

Angeles Wealth Management LLC bought a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,692 shares of the technology company’s stock, valued at approximately $266,000.

Several other hedge funds have also recently bought and sold shares of the stock. AMF Tjanstepension AB raised its position in AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after buying an additional 1,161,152 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of AT&T by 33.7% during the 3rd quarter. Ritholtz Wealth Management now owns 85,944 shares of the technology company’s stock worth $1,891,000 after acquiring an additional 21,652 shares in the last quarter. Mechanics Bank Trust Department acquired a new stake in shares of AT&T in the third quarter valued at approximately $210,000. Annex Advisory Services LLC lifted its position in shares of AT&T by 10.7% in the third quarter. Annex Advisory Services LLC now owns 16,053 shares of the technology company’s stock worth $353,000 after purchasing an additional 1,557 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in AT&T by 21.2% during the third quarter. Redhawk Wealth Advisors Inc. now owns 30,358 shares of the technology company’s stock worth $668,000 after purchasing an additional 5,320 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on T shares. Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI upped their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Tigress Financial increased their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Oppenheimer began coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.21.

AT&T Price Performance

Shares of NYSE T opened at $24.86 on Tuesday. The firm has a market cap of $178.38 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The business’s 50 day moving average is $23.04 and its 200-day moving average is $21.86. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.98.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts predict that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.47%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 74.50%.

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.