Allegiance Financial Group Advisory Services LLC Purchases New Shares in AT&T Inc. (NYSE:T)

Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,480 shares of the technology company's stock, valued at approximately $381,000.

Other hedge funds have also added to or reduced their stakes in the company. Keystone Financial Group boosted its holdings in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC purchased a new position in shares of AT&T in the first quarter worth $201,000. World Investment Advisors raised its stake in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after purchasing an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. raised its stake in shares of AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Finally, Huber Capital Management LLC raised its stake in shares of AT&T by 2.7% in the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock worth $13,161,000 after purchasing an additional 15,000 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.1%

T stock traded up $0.02 during midday trading on Friday, reaching $27.01. 8,047,506 shares of the company traded hands, compared to its average volume of 36,299,690. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The business has a 50 day moving average of $27.76 and a 200-day moving average of $26.41. The firm has a market capitalization of $194.32 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 3.37 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued 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). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Evercore ISI boosted their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday. Tigress Financial upped their price objective on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. Finally, Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

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.

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