Arbor Capital Management Inc. ADV Takes $263,000 Position in AT&T Inc. (NYSE:T)

Arbor Capital Management Inc. ADV purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,288 shares of the technology company's stock, valued at approximately $263,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the 4th quarter worth approximately $25,000. Putney Financial Group LLC bought a new position in AT&T in the fourth quarter worth approximately $27,000. Ball & Co Wealth Management Inc. acquired a new stake in AT&T in the fourth quarter valued at approximately $30,000. Finally, REAP Financial Group LLC increased its holdings in shares of AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after acquiring an additional 727 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of AT&T stock traded down $0.56 during trading hours on Wednesday, hitting $28.32. 46,984,239 shares of the company's stock traded hands, compared to its average volume of 36,448,014. The stock has a market capitalization of $203.78 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 4.11 and a beta of 0.42. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The company has a fifty day simple moving average of $27.72 and a 200-day simple moving average of $26.03.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. AT&T's payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. Morgan Stanley reiterated an "overweight" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Evercore ISI upped their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank Of Canada upped their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, TD Securities raised their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus price target of $28.90.

AT&T 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.