Del Sette Capital Management LLC Makes New $2.35 Million Investment in AT&T Inc. (NYSE:T)

Del Sette Capital Management LLC bought a new position in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 83,102 shares of the technology company's stock, valued at approximately $2,350,000. AT&T accounts for approximately 1.8% of Del Sette Capital Management LLC's investment portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of T. Hager Investment Management Services LLC boosted its position in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the period. Core Alternative Capital boosted its position in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares during the period. Capital A Wealth Management LLC bought a new position in shares of AT&T during the fourth quarter worth $25,000. Minot DeBlois Advisors LLC bought a new position in shares of AT&T during the fourth quarter worth $25,000. Finally, Putney Financial Group LLC bought a new position in shares of AT&T during the fourth quarter worth $27,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on T. Wells Fargo & Company upped their price target 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. increased their target price on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. UBS Group restated a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Williams Trading set a $30.00 price target on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.17.

AT&T Trading Down 0.6%

T traded down $0.16 on Wednesday, hitting $27.27. The company had a trading volume of 36,017,248 shares, compared to its average volume of 36,377,437. The firm has a market cap of $196.19 billion, a P/E ratio of 16.75, a PEG ratio of 3.42 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The company's fifty day moving average price is $27.74 and its 200 day moving average price is $26.49. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's payout ratio is 68.10%.

AT&T Company 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.