Dover Advisors LLC Has $662,000 Stock Position in AT&T Inc. (NYSE:T)

Dover Advisors LLC raised its position in shares of AT&T Inc. (NYSE:T - Free Report) by 101.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,410 shares of the technology company's stock after purchasing an additional 11,816 shares during the quarter. Dover Advisors LLC's holdings in AT&T were worth $662,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in T. Vanguard Group Inc. grew its position in AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC grew its position in AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC grew its position in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp grew its position in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Finally, Norges Bank bought a new stake in AT&T in the fourth quarter worth approximately $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. TD Securities boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Oppenheimer boosted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $28.71.

AT&T Stock Performance

AT&T stock traded down $0.14 during mid-day trading on Friday, reaching $28.13. The company had a trading volume of 22,422,913 shares, compared to its average volume of 36,665,525. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52 week low of $17.49 and a 52 week high of $29.03. The company has a 50 day moving average of $27.41 and a 200-day moving average of $25.64. The firm has a market cap of $202.43 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 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 the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

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.