Davidson Trust Co. Has $1.01 Million Stake in AT&T Inc. (NYSE:T)

Davidson Trust Co. boosted its position in AT&T Inc. (NYSE:T - Free Report) by 211.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,841 shares of the technology company's stock after acquiring an additional 24,328 shares during the period. Davidson Trust Co.'s holdings in AT&T were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in AT&T during the fourth quarter worth about $27,000. Ball & Co Wealth Management Inc. bought a new position in AT&T during the fourth quarter worth about $30,000. Finally, REAP Financial Group LLC boosted its holdings in AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock worth $31,000 after buying an additional 727 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on T shares. Morgan Stanley restated an "overweight" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. UBS Group reiterated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. TD Securities lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.90.

AT&T Stock Up 0.1%

AT&T stock traded up $0.02 during midday trading on Friday, reaching $28.33. The stock had a trading volume of 21,085,177 shares, compared to its average volume of 36,473,882. The firm's fifty day simple moving average is $27.76 and its 200-day simple moving average is $26.08. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. The stock has a market capitalization of $203.82 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 4.02 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 posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. As a group, analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 68.10%.

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.