Pinion Investment Advisors LLC Grows Stock Holdings in AT&T Inc. (NYSE:T)

Pinion Investment Advisors LLC increased its position in AT&T Inc. (NYSE:T - Free Report) by 102.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,086 shares of the technology company's stock after buying an additional 53,166 shares during the period. Pinion Investment Advisors LLC's holdings in AT&T were worth $2,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ritholtz Wealth Management boosted its stake in AT&T by 13.7% during the 1st quarter. Ritholtz Wealth Management now owns 194,537 shares of the technology company's stock valued at $5,502,000 after purchasing an additional 23,393 shares during the last quarter. Affinity Capital Advisors LLC bought a new position in shares of AT&T during the 1st quarter worth approximately $234,000. Cliftonlarsonallen Wealth Advisors LLC lifted its position in shares of AT&T by 17.3% during the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 12,127 shares of the technology company's stock worth $343,000 after buying an additional 1,792 shares in the last quarter. Dover Advisors LLC lifted its position in shares of AT&T by 101.9% during the 1st quarter. Dover Advisors LLC now owns 23,410 shares of the technology company's stock worth $662,000 after buying an additional 11,816 shares in the last quarter. Finally, Everpar Advisors LLC lifted its position in shares of AT&T by 14.3% during the 1st quarter. Everpar Advisors LLC now owns 14,999 shares of the technology company's stock worth $424,000 after buying an additional 1,875 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

Shares of AT&T stock traded down $0.14 during trading hours on Friday, reaching $28.13. The company's stock had a trading volume of 22,422,913 shares, compared to its average volume of 36,665,525. The firm has a 50 day moving average price of $27.41 and a 200-day moving average price of $25.64. AT&T Inc. has a one year low of $17.49 and a one year high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $202.43 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last posted 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). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on T. Royal Bank of Canada lifted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Evercore ISI lifted their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Wells Fargo & Company boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Barclays upped 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 Friday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average target price of $28.71.

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.