Destiny Wealth Partners LLC Takes $339,000 Position in AT&T Inc. (NYSE:T)

Destiny Wealth Partners LLC purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,993 shares of the technology company's stock, valued at approximately $339,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC boosted its stake in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC boosted its stake in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Finally, Norges Bank acquired a new stake in AT&T in the 4th quarter worth approximately $1,858,418,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Tigress Financial lifted their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Price Performance

Shares of NYSE T opened at $28.09 on Monday. The firm has a market cap of $202.12 billion, a PE ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41. The firm has a fifty day moving average of $27.32 and a 200 day moving average of $25.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T's revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 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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