Good Steward Wealth Advisors LLC Buys New Stake in AT&T Inc. (NYSE:T)

Good Steward Wealth Advisors LLC purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,256 shares of the technology company's stock, valued at approximately $573,000.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC increased 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 valued at $3,719,723,000 after buying an additional 2,640,644 shares during the period. GQG Partners LLC raised 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 buying an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 worth $1,948,943,000 after buying an additional 5,649,277 shares in the last quarter. Finally, Norges Bank purchased a new stake in AT&T in the fourth quarter worth about $1,858,418,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of NYSE T traded up $0.13 during trading on Friday, hitting $27.79. The company had a trading volume of 51,458,475 shares, compared to its average volume of 36,717,338. AT&T Inc. has a 12 month low of $17.90 and a 12 month high of $29.03. 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 firm has a market capitalization of $199.96 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.85 and a beta of 0.41. The stock has a 50 day simple moving average of $27.51 and a 200 day simple moving average of $25.76.

AT&T (NYSE:T - Get Free Report) last issued its quarterly 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 firm had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Tigress Financial boosted their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Finally, Oppenheimer raised their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $28.76.

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.