11,924 Shares in AT&T Inc. (NYSE:T) Bought by Riversedge Advisors LLC

Riversedge Advisors LLC bought a new position in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,924 shares of the technology company's stock, valued at approximately $337,000.

Other hedge funds have also modified their holdings of the company. Fortem Financial Group LLC grew its holdings in shares of AT&T by 2.1% during the first quarter. Fortem Financial Group LLC now owns 43,015 shares of the technology company's stock valued at $1,216,000 after buying an additional 872 shares in the last quarter. IFC Advisors LLC purchased a new position in shares of AT&T during the first quarter valued at $353,000. Xponance Inc. grew its holdings in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after buying an additional 102,419 shares in the last quarter. WESPAC Advisors LLC grew its holdings in shares of AT&T by 55.4% during the first quarter. WESPAC Advisors LLC now owns 65,521 shares of the technology company's stock valued at $1,853,000 after buying an additional 23,360 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in AT&T by 7.1% during the first quarter. Fidelis Capital Partners LLC now owns 43,396 shares of the technology company's stock valued at $1,163,000 after purchasing an additional 2,891 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

T opened at $26.97 on Friday. The stock has a market cap of $194.07 billion, a PE ratio of 16.55, a P/E/G ratio of 3.45 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The stock's 50 day simple moving average is $27.82 and its 200-day simple moving average is $26.30.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 68.10%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Barclays increased their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, Tigress Financial boosted their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.12.

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.

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