Foundations Investment Advisors LLC Raises Stake in AT&T Inc. (NYSE:T)

Key Points

• Foundations Investment Advisors LLC increased its stake in AT&T by 16.8% in Q1, holding 406,399 shares valued at approximately $11.49 million.
• Multiple institutional investors have raised their positions in AT&T, contributing to a total institutional ownership of 57.10% of the company's stock.
• AT&T is set to pay a quarterly dividend of $0.2775 per share on August 1, 2023, reflecting an annual yield of 3.96%.

Foundations Investment Advisors LLC raised its holdings in AT&T Inc. (NYSE:T - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 406,399 shares of the technology company's stock after buying an additional 58,380 shares during the quarter. Foundations Investment Advisors LLC's holdings in AT&T were worth $11,493,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in AT&T during the fourth quarter worth $229,000. Orion Portfolio Solutions LLC grew its holdings in AT&T by 3.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 323,088 shares of the technology company's stock worth $7,357,000 after buying an additional 11,687 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in AT&T by 4.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 100,437 shares of the technology company's stock worth $2,287,000 after buying an additional 4,406 shares in the last quarter. Finally, L & S Advisors Inc bought a new stake in AT&T during the fourth quarter worth $3,552,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Williams Trading set a $30.00 price objective on AT&T in a research note on Thursday, April 24th. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Tigress Financial upped their price objective on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley upped their price objective 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 sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Stock Performance

Shares of T stock traded down $0.05 on Thursday, hitting $27.46. 15,629,210 shares of the stock were exchanged, compared to its average volume of 37,877,305. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $196.31 billion, a PE ratio of 15.62, a P/E/G ratio of 3.40 and a beta of 0.42. AT&T Inc. has a one year low of $18.64 and a one year high of $29.19. The firm's 50 day moving average is $27.79 and its two-hundred day moving average is $26.73.

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

AT&T Dividend Announcement

The business also recently disclosed 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 is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. AT&T's dividend payout ratio (DPR) is 63.07%.

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.