Independence Financial Advisors LLC Takes $270,000 Position in AT&T Inc. (NYSE:T)

Key Points

• Independence Financial Advisors LLC invested $270,000 in AT&T Inc. during the first quarter, acquiring 9,551 shares in the telecom giant.
• AT&T's recent quarterly earnings reported $0.54 EPS, exceeding analysts' expectations, with revenue of $30.85 billion, up 3.4% year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, providing a dividend yield of 4.05% with a payout ratio of 63.07%.

Independence Financial Advisors LLC purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,551 shares of the technology company's stock, valued at approximately $270,000.

Several other institutional investors have also bought and sold shares of the stock. Minot DeBlois Advisors LLC bought a new stake in AT&T in the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $27,000. Hager Investment Management Services LLC lifted its stake in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Finally, Core Alternative Capital grew its holdings in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the period. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Wells Fargo & Company upped their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. 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 research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.66.

AT&T Stock Performance

Shares of NYSE T traded up $0.09 during midday trading on Wednesday, hitting $27.50. 30,063,016 shares of the company's stock were exchanged, compared to its average volume of 31,821,926. The firm has a market cap of $196.64 billion, a P/E ratio of 15.63, a PEG ratio of 3.40 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a twelve month low of $18.64 and a twelve month high of $29.19. The stock's 50 day moving average price is $27.79 and its 200-day moving average price is $26.73.

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

AT&T Dividend Announcement

The company 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 yield of 4.04%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio 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.