9,482 Shares in AT&T Inc. (NYSE:T) Acquired by Novus Advisors LLC

Key Points

• Novus Advisors LLC acquired 9,482 shares of AT&T Inc. valued at approximately $268,000 during the 1st quarter, highlighting new interest from institutional investors.
• AT&T recently reported earnings of $0.54 EPS for the quarter, exceeding expectations, with revenue of $30.85 billion indicating a 3.4% year-over-year increase.
• The company announced a quarterly dividend of $0.2775 per share, translating to an annual yield of 4.0%, reflecting its commitment to returning value to shareholders.

Novus Advisors LLC purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,482 shares of the technology company's stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares during the period. Wellington Management Group LLP lifted its holdings in AT&T by 161.3% in the 4th quarter. Wellington Management Group LLP now owns 2,522,814 shares of the technology company's stock worth $57,444,000 after buying an additional 1,557,431 shares during the period. Yoffe Investment Management LLC purchased a new stake in AT&T in the 4th quarter worth approximately $213,000. Thoroughbred Financial Services LLC lifted its holdings in AT&T by 3.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 19,544 shares of the technology company's stock worth $445,000 after buying an additional 591 shares during the period. Finally, Pioneer Trust Bank N A OR purchased a new stake in AT&T in the 4th quarter worth approximately $201,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on T shares. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. Bank of America began coverage on AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price target on the stock. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Evercore ISI lifted their target price 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $29.66.

AT&T Stock Up 1.3%

Shares of NYSE:T opened at $27.76 on Friday. AT&T Inc. has a 1 year low of $18.64 and a 1 year high of $29.19. The business has a 50 day simple moving average of $27.80 and a two-hundred day simple moving average of $26.85. The firm has a market capitalization of $198.49 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.44 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

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

AT&T Announces Dividend

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

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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