Money Concepts Capital Corp increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 30.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 220,505 shares of the technology company's stock after acquiring an additional 51,269 shares during the period. Money Concepts Capital Corp's holdings in AT&T were worth $6,236,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC purchased a new position in AT&T during the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the fourth quarter valued at about $27,000. Ball & Co Wealth Management Inc. acquired a new stake in AT&T in the fourth quarter valued at about $30,000. Finally, REAP Financial Group LLC lifted its stake in AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after buying an additional 727 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.
AT&T Price Performance
NYSE:T opened at $28.04 on Friday. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.03. The company has a market cap of $201.73 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.96 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The stock's 50-day simple moving average is $27.61 and its 200 day simple moving average is $25.91.
AT&T (NYSE:T - Get Free Report) last issued 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). The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Announces Dividend
The business also recently announced 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. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is presently 68.10%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Cowen restated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada increased their price objective on 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 AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.76.
Read Our Latest Research Report on T
About AT&T
(
Free Report)
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.
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