Calton & Associates Inc. Grows Stake in AT&T Inc. $T

Key Points

• Calton & Associates Inc. significantly increased its stake in AT&T Inc. by 112.3% during the first quarter, owning over 70,000 shares valued at approximately $2 million.
• Several institutional investors have also adjusted their positions, with Saudi Central Bank and DRW Securities LLC making notable purchases, reflecting growing institutional interest in AT&T.
• Equities research analysts have mostly issued a "buy" rating for AT&T, with a consensus price target of $30.21, signaling positive sentiment for the company's future performance.

Calton & Associates Inc. increased its position in AT&T Inc. (NYSE:T - Free Report) by 112.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,772 shares of the technology company's stock after acquiring an additional 37,431 shares during the period. Calton & Associates Inc.'s holdings in AT&T were worth $2,001,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter valued at $25,000. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% during the 1st 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 last quarter. IMA Advisory Services Inc. acquired a new stake in AT&T during the 1st quarter valued at $29,000. Core Alternative Capital grew its holdings in AT&T by 125.4% during the 1st 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 last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter valued at $25,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Down 0.2%

Shares of AT&T stock traded down $0.06 during trading hours on Wednesday, reaching $29.03. 27,239,409 shares of the company's stock were exchanged, compared to its average volume of 36,846,547. 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 firm has a market capitalization of $207.54 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The company has a fifty day moving average of $28.15 and a 200-day moving average of $27.57. AT&T Inc. has a 52-week low of $20.25 and a 52-week high of $29.65.

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 for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. 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. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.40.

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.