18,665 Shares in AT&T Inc. (NYSE:T) Bought by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC acquired a new stake in AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,665 shares of the technology company's stock, valued at approximately $493,000.

Several other large investors also recently modified their holdings of T. Vanguard Group Inc. grew its position in shares of AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AT&T by 1.6% during the fourth 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 during the last quarter. GQG Partners LLC grew its stake in AT&T by 37.3% in the fourth 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 increased its holdings in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after buying an additional 5,649,277 shares during the last quarter. Finally, Norges Bank acquired a new stake in AT&T during the fourth quarter valued at approximately $1,858,418,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of several research reports. Scotiabank reissued an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. Oppenheimer lifted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of "Moderate Buy" and an average price target of $28.71.

AT&T Price Performance

Shares of T traded up $0.56 during midday trading on Tuesday, reaching $28.42. The stock had a trading volume of 39,923,339 shares, compared to its average volume of 36,665,898. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market capitalization of $204.46 billion, a P/E ratio of 19.07, a P/E/G ratio of 3.00 and a beta of 0.41. The firm's 50 day moving average price is $27.32 and its 200-day moving average price is $25.52. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03.

AT&T (NYSE:T - Get Free Report) last released 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 return on equity of 13.97% and a net margin of 8.95%. 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. AT&T's revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is presently 68.10%.

About AT&T

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.