Exchange Traded Concepts LLC Raises Position in AT&T Inc. (NYSE:T)

Exchange Traded Concepts LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,003,904 shares of the technology company's stock after acquiring an additional 375,241 shares during the period. AT&T accounts for 1.0% of Exchange Traded Concepts LLC's investment portfolio, making the stock its 20th biggest holding. Exchange Traded Concepts LLC's holdings in AT&T were worth $56,670,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Keystone Financial Group grew its stake in AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after buying an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC bought a new stake in AT&T during the first quarter valued at about $201,000. World Investment Advisors grew its position 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 valued at $5,407,000 after purchasing an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. grew its position 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 valued at $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Finally, West Family Investments Inc. increased its stake in shares of AT&T by 70.4% in the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock worth $864,000 after purchasing an additional 15,680 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 0.5%

T stock traded down $0.14 during trading on Friday, reaching $28.13. 22,422,913 shares of the stock were exchanged, compared to its average volume of 36,665,525. The firm's 50 day moving average is $27.41 and its 200 day moving average is $25.64. The firm has a market cap of $202.43 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.49 and a twelve month high of $29.03.

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). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer increased their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Wells Fargo & Company upped their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, TD Securities increased their target price on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

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.