Proficio Capital Partners LLC Increases Position in AT&T Inc. (NYSE:T)

Proficio Capital Partners LLC raised its stake in AT&T Inc. (NYSE:T - Free Report) by 607.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,757 shares of the technology company's stock after purchasing an additional 174,975 shares during the quarter. Proficio Capital Partners LLC's holdings in AT&T were worth $5,763,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T during the 4th quarter worth about $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter worth about $27,000. Hager Investment Management Services LLC boosted its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares during the period. Finally, Core Alternative Capital boosted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after buying an additional 568 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. UBS Group reiterated a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Royal Bank Of Canada upped their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.37.

AT&T Price Performance

Shares of AT&T stock traded up $0.16 during trading hours on Thursday, hitting $27.91. The company's stock had a trading volume of 47,307,925 shares, compared to its average volume of 38,215,250. The business has a 50 day moving average price of $27.79 and a two-hundred day moving average price of $26.54. AT&T Inc. has a 12-month low of $18.64 and a 12-month high of $29.19. The company has a market cap of $200.81 billion, a PE ratio of 17.12, a PEG ratio of 3.42 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 yield of 3.98%. AT&T's payout ratio is currently 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.