Kwmg LLC Purchases 9,656 Shares of AT&T Inc. (NYSE:T)

Kwmg LLC boosted its position in AT&T Inc. (NYSE:T) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,219 shares of the technology company’s stock after purchasing an additional 9,656 shares during the quarter. Kwmg LLC’s holdings in AT&T were worth $4,509,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in AT&T in the 4th quarter worth about $25,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the 3rd quarter worth about $30,000. Western Pacific Wealth Management LP acquired a new position in AT&T in the 4th quarter worth about $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of AT&T stock traded up $0.07 during trading hours on Wednesday, reaching $18.76. The company had a trading volume of 17,918,891 shares, compared to its average volume of 36,723,105. AT&T Inc. has a one year low of $13.43 and a one year high of $18.78. The business has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $17.13. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $134.51 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 4.25 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share 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 business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 5.92%. AT&T’s dividend payout ratio is presently 59.68%.

Analysts Set New Price Targets

A number of research firms have commented on T. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday, April 29th. Oppenheimer restated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research report on Tuesday. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.54.

About AT&T

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.