Inlight Wealth Management LLC Acquires New Position in AT&T Inc. (NYSE:T)

Inlight Wealth Management LLC bought a new position in AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 401,038 shares of the technology company's stock, valued at approximately $9,132,000. AT&T accounts for approximately 2.9% of Inlight Wealth Management LLC's investment portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also added to or reduced their stakes in T. Vanguard Group Inc. raised its holdings 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 valued at $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of AT&T by 37.3% during the fourth 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 stake in shares of AT&T by 7.1% in the fourth 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 last quarter. Finally, Norges Bank purchased a new position in AT&T during the 4th quarter valued at about $1,858,418,000. 57.10% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. DZ Bank upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. BNP Paribas upgraded shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Finally, Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.24.

AT&T Stock Performance

NYSE:T traded up $0.40 during mid-day trading on Friday, reaching $26.79. The company's stock had a trading volume of 32,053,085 shares, compared to its average volume of 36,892,644. The firm's fifty day moving average price is $26.59 and its two-hundred day moving average price is $23.97. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market cap of $192.29 billion, a P/E ratio of 17.98, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $29.03.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.14%. AT&T's dividend payout ratio is currently 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.