Opal Wealth Advisors LLC Raises Stock Holdings in AT&T Inc. (NYSE:T)

Opal Wealth Advisors LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 18.8% during the 4th quarter, HoldingsChannel reports. The fund owned 13,420 shares of the technology company’s stock after buying an additional 2,126 shares during the period. Opal Wealth Advisors LLC’s holdings in AT&T were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC raised its holdings in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. National Pension Service raised its stake in shares of AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of AT&T by 112.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after purchasing an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of AT&T by 7.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock valued at $378,807,000 after buying an additional 1,206,330 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on T shares. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company cut their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Tigress Financial lifted their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.21.

AT&T Trading Up 0.4 %

Shares of T stock opened at $24.56 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 stock has a fifty day simple moving average of $23.04 and a two-hundred day simple moving average of $21.84. The firm has a market capitalization of $176.19 billion, a PE ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.52%. AT&T’s dividend payout ratio is 74.50%.

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.