Denali Advisors LLC lifted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,643 shares of the technology company's stock after purchasing an additional 23,416 shares during the quarter. AT&T accounts for about 1.2% of Denali Advisors LLC's portfolio, making the stock its 10th largest position. Denali Advisors LLC's holdings in AT&T were worth $10,708,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hager Investment Management Services LLC lifted its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares during the period. Core Alternative Capital lifted its position 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 acquiring an additional 568 shares during the period. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the 4th quarter valued at $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the 4th quarter valued at $25,000. Finally, Putney Financial Group LLC acquired a new position in shares of AT&T during the 4th quarter valued at $27,000. 57.10% of the stock is owned by institutional investors.
AT&T Stock Performance
T traded down $0.07 during trading on Friday, hitting $26.92. 27,403,482 shares of the company traded hands, compared to its average volume of 36,405,886. 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 firm has a market cap of $193.71 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The stock's fifty day moving average is $27.74 and its 200 day moving average is $26.47.
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 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 the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Dividend Announcement
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 given a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.12%. AT&T's dividend payout ratio (DPR) is currently 68.10%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Williams Trading set a $30.00 price objective on shares of AT&T in a report on Thursday, April 24th. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, TD Securities upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $29.17.
Check Out Our Latest Stock Report on AT&T
About AT&T
(
Free Report)
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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