AT&T Inc. (NYSE:T) Shares Bought by Inspire Trust Co. N.A.

Key Points

• Inspire Trust Co. N.A. increased its stake in AT&T by 10%, acquiring an additional 15,000 shares, which brings its total holdings to 165,000 shares valued at approximately $4.67 million.
• Several major investors, including Vanguard Group and GQG Partners, have also raised their positions in AT&T, indicating strong institutional interest in the company.
• AT&T reported a quarterly earnings per share of $0.54, exceeding expectations, and declared a quarterly dividend of $0.2775 per share, yielding approximately 3.9% annually.

Inspire Trust Co. N.A. grew its position in shares of AT&T Inc. (NYSE:T - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,000 shares of the technology company's stock after purchasing an additional 15,000 shares during the period. AT&T makes up approximately 1.1% of Inspire Trust Co. N.A.'s investment portfolio, making the stock its 23rd biggest position. Inspire Trust Co. N.A.'s holdings in AT&T were worth $4,666,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in T. AllSquare Wealth Management LLC raised its holdings in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after acquiring an additional 378 shares during the last quarter. Next Level Private LLC raised its holdings in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after acquiring an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in shares of AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after buying an additional 384 shares during the last quarter. Kozak & Associates Inc. raised its position in shares of AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after buying an additional 398 shares during the period. Finally, Silver Oak Securities Incorporated raised its position in shares of AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after buying an additional 398 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of AT&T stock traded up $0.36 on Thursday, reaching $28.76. 24,523,413 shares of the stock were exchanged, compared to its average volume of 33,400,236. AT&T Inc. has a 1-year low of $18.97 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 business has a fifty day moving average price of $27.89 and a two-hundred day moving average price of $27.16. The firm has a market capitalization of $205.61 billion, a PE ratio of 16.34, a PEG ratio of 3.51 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (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 business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the business posted $0.51 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is 63.07%.

Wall Street Analyst Weigh In

Several research firms have recently commented on T. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Scotiabank lifted their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. One investment 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.66.

AT&T Company 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.