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Financial Gravity Asset Management Inc. Invests $276,000 in AT&T Inc. (NYSE:T)

AT&T logo with Computer and Technology background

Financial Gravity Asset Management Inc. acquired 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 disclosure with the Securities and Exchange Commission. The firm acquired 9,760 shares of the technology company's stock, valued at approximately $276,000.

Several other large investors also recently modified their holdings of the stock. Minot DeBlois Advisors LLC acquired a new stake in AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new position in AT&T during the 4th quarter valued at $27,000. Core Alternative Capital lifted its stake in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new position in AT&T during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer boosted their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Royal Bank Of Canada lifted their target price on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Barclays lifted their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Tigress Financial boosted their price objective on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.12.

View Our Latest Stock Report on T

AT&T Stock Down 2.4%

Shares of NYSE T traded down $0.65 during trading on Friday, reaching $26.97. The company had a trading volume of 42,637,282 shares, compared to its average volume of 36,516,853. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. 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 business's 50-day moving average is $27.82 and its 200 day moving average is $26.30.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio is currently 68.10%.

AT&T Profile

(Free Report)

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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