Global Assets Advisory LLC Purchases Shares of 24,689 AT&T Inc. (NYSE:T)

Global Assets Advisory LLC acquired a new stake in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,689 shares of the technology company's stock, valued at approximately $662,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Brighton Jones LLC lifted its holdings in shares of 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 purchasing an additional 10,188 shares during the period. Crestwood Advisors Group LLC lifted its holdings in shares of AT&T by 15.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 22,881 shares of the technology company's stock worth $521,000 after purchasing an additional 3,086 shares during the period. Pinnacle West Asset Management Inc. raised its position in AT&T by 3.1% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 33,202 shares of the technology company's stock worth $756,000 after buying an additional 1,000 shares during the last quarter. Cavalier Investments LLC raised its position in AT&T by 4.3% during the 4th quarter. Cavalier Investments LLC now owns 124,252 shares of the technology company's stock worth $2,829,000 after buying an additional 5,136 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in AT&T by 2.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 75,247 shares of the technology company's stock worth $1,713,000 after buying an additional 1,685 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $27.93 on Thursday. The firm has a market cap of $200.97 billion, a PE ratio of 17.13, a PEG ratio of 4.01 and a beta of 0.41. The firm has a fifty day moving average of $27.59 and a 200 day moving average of $25.87. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a one year low of $18.14 and a one year 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 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.97%. AT&T's payout ratio is 68.10%.

Analysts Set New Price Targets

A number of research firms have issued reports on T. Scotiabank reissued an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Barclays lifted their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, TD Securities lifted their price target on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.76.

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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