Florida Financial Advisors LLC Acquires New Shares in AT&T Inc. (NYSE:T)

Florida Financial Advisors LLC purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,763 shares of the technology company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its position in shares of AT&T by 4.8% during the 1st quarter. Bleakley Financial Group LLC now owns 271,224 shares of the technology company's stock valued at $7,670,000 after purchasing an additional 12,382 shares in the last quarter. LRI Investments LLC lifted its stake in AT&T by 6.0% during the first quarter. LRI Investments LLC now owns 32,643 shares of the technology company's stock valued at $923,000 after purchasing an additional 1,858 shares during the last quarter. Cahaba Wealth Management Inc. lifted its stake in AT&T by 18.0% during the first quarter. Cahaba Wealth Management Inc. now owns 46,274 shares of the technology company's stock valued at $1,309,000 after purchasing an additional 7,069 shares during the last quarter. Smith Thornton Advisors LLC boosted its holdings in AT&T by 2.4% during the first quarter. Smith Thornton Advisors LLC now owns 69,149 shares of the technology company's stock worth $1,956,000 after buying an additional 1,592 shares in the last quarter. Finally, TFR Capital LLC. grew its position in AT&T by 56.1% in the first quarter. TFR Capital LLC. now owns 13,862 shares of the technology company's stock worth $392,000 after buying an additional 4,981 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

Shares of NYSE:T traded down $0.07 during midday trading on Wednesday, hitting $26.95. The company's stock had a trading volume of 21,921,026 shares, compared to its average volume of 36,473,600. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The stock's 50 day simple moving average is $27.77 and its 200 day simple moving average is $26.38. The stock has a market capitalization of $193.89 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.37 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19.

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 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 the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.12%. AT&T's dividend payout ratio is 68.10%.

Analyst Ratings Changes

A number of brokerages have recently commented on T. Wells Fargo & Company increased their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. UBS Group restated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

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.