Bleakley Financial Group LLC Raises Holdings in AT&T Inc. (NYSE:T)

Bleakley Financial Group LLC boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,224 shares of the technology company's stock after purchasing an additional 12,382 shares during the quarter. Bleakley Financial Group LLC's holdings in AT&T were worth $7,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in T. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T in the 4th quarter valued at about $27,000. Core Alternative Capital boosted its position in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the period. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of AT&T in the 4th quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Williams Trading set a $30.00 price objective on AT&T in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Scotiabank upped their price objective on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday. 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.12.

AT&T Price Performance

Shares of AT&T stock opened at $26.97 on Monday. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The stock has a market capitalization of $194.07 billion, a P/E ratio of 16.55, a PEG ratio of 3.37 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The business's fifty day moving average price is $27.82 and its 200 day moving average price is $26.35.

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). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the business posted $0.55 EPS. AT&T's revenue was up 2.0% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's payout ratio is 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.

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