Gray Wealth Management Inc. Has $598,000 Holdings in AT&T Inc. (NYSE:T)

Gray Wealth Management Inc. lessened its stake in AT&T Inc. (NYSE:T) by 29.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,627 shares of the technology company’s stock after selling 14,931 shares during the quarter. Gray Wealth Management Inc.’s holdings in AT&T were worth $598,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of T. Sora Investors LLC bought a new stake in AT&T in the third quarter worth $11,265,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of AT&T by 2.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock worth $259,219,000 after buying an additional 383,015 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after acquiring an additional 1,178 shares during the period. Retireful LLC acquired a new position in AT&T in the fourth quarter valued at about $1,163,000. Finally, Terril Brothers Inc. grew its position in AT&T by 51.6% during the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock worth $8,937,000 after acquiring an additional 202,637 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on T. Citigroup lifted their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays lifted their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Stock Performance

AT&T stock traded up $0.21 during trading on Thursday, hitting $16.33. The stock had a trading volume of 29,507,895 shares, compared to its average volume of 38,480,277. The stock has a market cap of $116.81 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The stock’s 50 day moving average is $17.02 and its two-hundred day moving average is $16.48. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.83.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.80%. AT&T’s dividend payout ratio is currently 56.63%.

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.