Fiduciary Alliance LLC Acquires 123,829 Shares of AT&T Inc. (NYSE:T)

Fiduciary Alliance LLC lifted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 172.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 195,495 shares of the technology company's stock after buying an additional 123,829 shares during the quarter. Fiduciary Alliance LLC's holdings in AT&T were worth $5,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of T. Minot DeBlois Advisors LLC acquired a new stake in AT&T during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in AT&T in the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in AT&T during the fourth quarter worth about $27,000. Marshall Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $28,000. Finally, YANKCOM Partnership bought a new position in shares of AT&T in the fourth quarter worth about $30,000. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.3%

NYSE T traded up $0.36 during mid-day trading on Thursday, hitting $27.72. The company's stock had a trading volume of 10,548,836 shares, compared to its average volume of 36,599,601. The firm has a market capitalization of $199.43 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 3.00 and a beta of 0.41. The company's 50 day simple moving average is $27.34 and its 200 day simple moving average is $25.38. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.42 and a twelve month high of $29.03.

AT&T (NYSE:T - Get Free Report) last posted its 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 business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's payout ratio is currently 68.10%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. BNP Paribas upgraded shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.71.

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.