AT&T Inc. (NYSE:T) Stock Position Raised by Plan Group Financial LLC

Key Points

• Plan Group Financial LLC increased its stake in AT&T shares by 32.7%, owning 72,602 shares valued at $2,053,000 after purchasing an additional 17,910 shares in the 1st quarter.
• AT&T reported a quarterly earnings per share of $0.54, exceeding estimates, and saw a 3.4% increase in year-over-year revenue, totaling $30.85 billion.
• Equity analysts have raised their price targets for AT&T, with an average rating of "Moderate Buy" and a consensus price target of $29.66, following notable upgrades from firms like Tigress Financial and Royal Bank of Canada.

Plan Group Financial LLC boosted its position in AT&T Inc. (NYSE:T - Free Report) by 32.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 72,602 shares of the technology company's stock after acquiring an additional 17,910 shares during the period. Plan Group Financial LLC's holdings in AT&T were worth $2,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hager Investment Management Services LLC boosted its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of AT&T in the 1st quarter valued at $29,000. Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% in 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 last quarter. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.4%

T stock traded up $0.10 during trading on Tuesday, reaching $27.78. The stock had a trading volume of 25,315,959 shares, compared to its average volume of 33,944,896. AT&T Inc. has a 1-year low of $18.86 and a 1-year high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $198.64 billion, a P/E ratio of 15.78, a PEG ratio of 3.43 and a beta of 0.42. The firm has a fifty day moving average price of $27.81 and a 200 day moving average price of $26.92.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T's payout ratio is presently 63.07%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on T. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target on the stock. Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Raymond James Financial restated a "strong-buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.66.

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.