AT&T Inc. $T Stock Position Raised by United Asset Strategies Inc.

Key Points

• United Asset Strategies Inc. increased its position in AT&T Inc. by 105.1% during the first quarter, holding 22,503 shares valued at $636,000 as of the latest SEC filing.
• The company reported a $30.85 billion revenue for the last quarter, exceeding analyst expectations, alongside an EPS of $0.54, slightly above the consensus estimate.
• AT&T announced a quarterly dividend of $0.2775 per share, equating to an annualized yield of 3.8% and a payout ratio of 63.07%.

United Asset Strategies Inc. lifted its position in AT&T Inc. (NYSE:T - Free Report) by 105.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,503 shares of the technology company's stock after acquiring an additional 11,532 shares during the quarter. United Asset Strategies Inc.'s holdings in AT&T were worth $636,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of AT&T by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,435,357 shares of the technology company's stock valued at $973,833,000 after acquiring an additional 8,355,686 shares in the last quarter. Luts & Greenleigh Group Inc. lifted its position in shares of AT&T by 19.6% in the 1st quarter. Luts & Greenleigh Group Inc. now owns 20,225 shares of the technology company's stock valued at $572,000 after acquiring an additional 3,320 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of AT&T by 9.8% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 53,337 shares of the technology company's stock valued at $1,508,000 after acquiring an additional 4,770 shares in the last quarter. GM Advisory Group LLC grew its position in AT&T by 281.5% during the first quarter. GM Advisory Group LLC now owns 114,825 shares of the technology company's stock valued at $3,247,000 after purchasing an additional 84,723 shares in the last quarter. Finally, Breed s Hill Capital LLC purchased a new position in AT&T during the first quarter valued at approximately $232,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.5%

Shares of AT&T stock opened at $29.4350 on Friday. The stock has a market capitalization of $210.47 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a 50-day simple moving average of $27.98 and a 200 day simple moving average of $27.33. AT&T Inc. has a 12-month low of $19.40 and a 12-month high of $29.56.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 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 firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company's revenue was up 3.4% on a year-over-year basis. Research analysts expect 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. Shareholders of record on Thursday, July 10th were issued 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 yield of 3.8%. AT&T's dividend payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Evercore ISI boosted their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Scotiabank upped their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Tigress Financial upped their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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