Apollon Wealth Management LLC Buys 9,977 Shares of AT&T Inc. (NYSE:T)

Apollon Wealth Management LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 4.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 224,184 shares of the technology company's stock after acquiring an additional 9,977 shares during the period. Apollon Wealth Management LLC's holdings in AT&T were worth $6,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the 4th quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the 4th quarter valued at approximately $27,000. Core Alternative Capital lifted its stake in shares of 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 buying an additional 568 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of AT&T during the 4th quarter valued at approximately $30,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Down 0.6%

Shares of NYSE T traded down $0.16 during midday trading on Tuesday, hitting $27.00. The stock had a trading volume of 32,167,335 shares, compared to its average volume of 36,471,340. The business's 50 day moving average is $27.82 and its 200-day moving average is $26.38. The company has a market cap of $194.28 billion, a P/E ratio of 16.56, a PEG ratio of 3.37 and a beta of 0.42. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.19. 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 (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $0.55 earnings per share. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Williams Trading set a $30.00 target price on shares of AT&T in a research note on Thursday, April 24th. TD Securities raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Barclays lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus 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.