AT&T Inc. $T Shares Purchased by GM Advisory Group LLC

Key Points

• GM Advisory Group LLC increased its holdings in AT&T by 281.5%, acquiring 114,825 shares valued at approximately $3.25 million.
• Analysts have boosted their price targets for AT&T, with JPMorgan increasing its target to $33.00 and Raymond James giving a "strong-buy" rating. The average price target is now $30.21.
• AT&T reported earnings of $0.54 EPS for the last quarter, beating expectations, and has declared a quarterly dividend of $0.2775 per share, yielding 3.8% annually.

GM Advisory Group LLC raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 281.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,825 shares of the technology company's stock after acquiring an additional 84,723 shares during the quarter. GM Advisory Group LLC's holdings in AT&T were worth $3,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in T. Minot DeBlois Advisors LLC purchased a new position in AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the 4th quarter valued at about $25,000. Stone House Investment Management LLC purchased a new position in AT&T during the 1st quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in AT&T in the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC raised its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 2.4%

Shares of NYSE T traded down $0.7110 on Friday, reaching $28.7290. 33,993,083 shares of the company traded hands, compared to its average volume of 30,014,602. AT&T Inc. has a fifty-two week low of $19.51 and a fifty-two week high of $29.65. The company has a 50 day moving average of $27.99 and a 200 day moving average of $27.36. 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 stock has a market capitalization of $205.42 billion, a PE ratio of 16.32, a P/E/G ratio of 3.64 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating 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 company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The company's quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. AT&T's dividend payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group reissued a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Tigress Financial boosted their target price on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 target price for the company. One equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.21.

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.