Lee Danner & Bass Inc. Buys 46,622 Shares of AT&T Inc. (NYSE:T)

Lee Danner & Bass Inc. raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 134.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,309 shares of the technology company's stock after acquiring an additional 46,622 shares during the period. Lee Danner & Bass Inc.'s holdings in AT&T were worth $2,299,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Core Alternative Capital increased 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 purchasing an additional 568 shares during the period. Sutton Place Investors LLC acquired a new position in shares of AT&T during the 1st quarter valued at $228,000. Novare Capital Management LLC increased its position in shares of AT&T by 3.7% during the 1st quarter. Novare Capital Management LLC now owns 33,255 shares of the technology company's stock valued at $940,000 after purchasing an additional 1,180 shares during the period. Adell Harriman & Carpenter Inc. increased its position in shares of AT&T by 4.0% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 155,119 shares of the technology company's stock valued at $4,387,000 after purchasing an additional 6,005 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in shares of AT&T by 12.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 313,653 shares of the technology company's stock valued at $8,870,000 after purchasing an additional 35,606 shares during the period. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Cowen restated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. Scotiabank restated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Finally, UBS Group restated a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $29.05.

AT&T Stock Up 0.1%

T traded up $0.03 during trading on Monday, reaching $28.39. 22,445,029 shares of the stock traded hands, compared to its average volume of 36,440,762. The stock has a market cap of $204.28 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 4.02 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 debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock's 50-day simple moving average is $27.79 and its two-hundred day simple moving average is $26.17.

AT&T (NYSE:T - Get Free Report) last released 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 firm had revenue of $30.63 billion for 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%. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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 3.91%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

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.