30,385 Shares in AT&T Inc. (NYSE:T) Acquired by Strategy Asset Managers LLC

Key Points

• Strategy Asset Managers LLC acquired 30,385 shares of AT&T Inc., valued at approximately $859,000, marking a notable investment in the company during the first quarter.
• AT&T's stock has been rated with a consensus "Moderate Buy" and an average price target of $29.66 by analysts, with a total of 18 buy ratings issued.
• The company recently declared a quarterly dividend of $0.2775, translating to an annual yield of 4.0%, underlining its commitment to returning value to shareholders.

Strategy Asset Managers LLC purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 30,385 shares of the technology company's stock, valued at approximately $859,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Brighton Jones LLC boosted its holdings in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after buying an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth $213,000. Cerity Partners LLC boosted its stake in AT&T by 3.3% during the 4th quarter. Cerity Partners LLC now owns 1,615,824 shares of the technology company's stock worth $36,407,000 after purchasing an additional 50,938 shares during the period. Rollins Financial Advisors LLC boosted its stake in AT&T by 91.0% during the 4th quarter. Rollins Financial Advisors LLC now owns 23,547 shares of the technology company's stock worth $536,000 after purchasing an additional 11,218 shares during the period. Finally, FIL Ltd boosted its stake in AT&T by 6.7% during the 4th quarter. FIL Ltd now owns 46,158 shares of the technology company's stock worth $1,051,000 after purchasing an additional 2,897 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on T shares. Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. Tigress Financial increased their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. TD Securities increased their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Cowen reissued a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $29.66.

AT&T Price Performance

Shares of T stock traded up $0.56 during trading hours on Thursday, hitting $28.05. The company's stock had a trading volume of 35,250,757 shares, compared to its average volume of 34,202,664. The business has a fifty day moving average of $27.83 and a 200-day moving average of $26.97. The stock has a market cap of $200.59 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 3.41 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.97 and a twelve month high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is 63.07%.

AT&T Company 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.