Everstar Asset Management LLC Acquires Shares of 8,675 AT&T Inc. $T

Everstar Asset Management LLC acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,675 shares of the technology company's stock, valued at approximately $259,000.

Other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter valued at about $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC raised 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 acquiring an additional 641 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Down 2.3%

T stock opened at $28.91 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $20.92 and a 12-month high of $29.79. The stock has a market cap of $206.68 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.66 and a beta of 0.44. The business's 50-day moving average is $28.23 and its 200 day moving average is $27.66.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the firm posted $0.51 EPS. AT&T's revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is presently 63.07%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. UBS Group set a $32.00 price target on AT&T in a research note on Thursday. Finally, Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.60.

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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