Harbour Trust & Investment Management Co Invests $256,000 in AT&T Inc. (NYSE:T)

Harbour Trust & Investment Management Co purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,065 shares of the technology company's stock, valued at approximately $256,000.

Several other hedge funds have also made changes to their positions in the stock. Next Level Private LLC raised its holdings in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after acquiring an additional 384 shares during the period. Kozak & Associates Inc. raised its stake in AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after acquiring an additional 398 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after acquiring an additional 398 shares in the last quarter. Finally, Firethorn Wealth Partners LLC boosted its position in AT&T by 4.1% during 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 during the period. Institutional investors own 57.10% of the company's stock.

AT&T Stock Down 1.9%

AT&T stock traded down $0.56 during trading hours on Wednesday, hitting $28.32. The company had a trading volume of 46,984,239 shares, compared to its average volume of 36,448,014. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm has a market capitalization of $203.78 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 4.11 and a beta of 0.42. The firm's fifty day moving average is $27.72 and its 200-day moving average is $26.03.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is 68.10%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on T. Evercore ISI upped their price target on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Tigress Financial lifted their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Scotiabank restated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $28.90.

AT&T Company 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.