GAMMA Investing LLC Buys 22,195 Shares of AT&T Inc. (NYSE:T)

GAMMA Investing LLC grew its stake in AT&T Inc. (NYSE:T - Free Report) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,258 shares of the technology company's stock after acquiring an additional 22,195 shares during the period. GAMMA Investing LLC's holdings in AT&T were worth $4,673,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Next Level Private LLC increased its position in AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after purchasing an additional 379 shares during the period. Carolinas Wealth Consulting LLC raised its position in shares of AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after acquiring an additional 384 shares in the last quarter. Firethorn Wealth Partners LLC raised its position in shares of AT&T by 4.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock worth $286,000 after acquiring an additional 399 shares in the last quarter. Charter Oak Capital Management LLC lifted its stake in shares of AT&T by 2.7% during the 1st quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company's stock worth $431,000 after purchasing an additional 408 shares during the last quarter. Finally, Buska Wealth Management LLC boosted its position in AT&T by 3.2% during the fourth quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company's stock valued at $305,000 after purchasing an additional 412 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on T shares. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. UBS Group reaffirmed a "buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. TD Securities lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.76.

AT&T Price Performance

NYSE:T opened at $28.08 on Friday. The company has a 50 day moving average price of $27.63 and a 200-day moving average price of $25.94. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.03. The firm has a market cap of $202.02 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 3.97 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the previous year, the firm posted $0.55 EPS. The firm's quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given 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 3.95%. AT&T's dividend payout ratio is currently 68.10%.

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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