Allworth Financial LP Increases Position in AT&T Inc. (NYSE:T)

Allworth Financial LP increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,478,015 shares of the technology company's stock after buying an additional 54,098 shares during the quarter. Allworth Financial LP's holdings in AT&T were worth $40,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. Keystone Financial Group lifted its stake in shares of 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 purchasing an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC purchased a new stake in AT&T in the 1st quarter valued at about $201,000. World Investment Advisors lifted its position in 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 buying an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. boosted its stake in AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after buying an additional 365,776 shares during the period. Finally, Huber Capital Management LLC increased its position in shares of AT&T by 2.7% during the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after acquiring an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Down 1.8%

T traded down $0.50 on Thursday, reaching $27.61. The company's stock had a trading volume of 25,030,281 shares, compared to its average volume of 36,440,534. The company has a market capitalization of $198.63 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 3.51 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two 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. The stock has a 50 day moving average of $27.84 and a two-hundred day moving average of $26.24.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is currently 68.10%.

Analysts Set New Price Targets

Several equities analysts have recently commented on T shares. Bank of America assumed coverage on shares of AT&T in a report on Monday. They issued a "buy" rating and a $32.00 price objective on the stock. Evercore ISI upped their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. 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. Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Royal Bank Of Canada increased their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. One 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.10.

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.