Deroy & Devereaux Private Investment Counsel Inc. Acquires New Shares in AT&T Inc. (NYSE:T)

Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 786,135 shares of the technology company's stock, valued at approximately $22,232,000.

Other hedge funds have also made changes to their positions in the company. Next Level Private LLC lifted its stake in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. boosted its holdings in shares of AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the last quarter. Silver Oak Securities Incorporated grew its position in shares of AT&T by 0.3% in the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after purchasing an additional 398 shares during the period. Finally, Firethorn Wealth Partners LLC increased its stake in AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock valued at $286,000 after purchasing an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.1%

NYSE:T opened at $28.33 on Friday. The firm has a market capitalization of $203.82 billion, a P/E ratio of 17.38, a P/E/G ratio of 4.02 and a beta of 0.42. The business has a 50 day simple moving average of $27.76 and a 200 day simple moving average of $26.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Royal Bank Of Canada boosted their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Williams Trading set a $30.00 target price on shares of AT&T in a research report on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Barclays increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average target price of $28.90.

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.

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