Investors Research Corp Has $1.20 Million Stock Holdings in AT&T Inc. (NYSE:T)

Investors Research Corp reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 34.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,523 shares of the technology company's stock after selling 22,419 shares during the quarter. Investors Research Corp's holdings in AT&T were worth $1,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Consolidated Planning Corp raised its position in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after acquiring an additional 21,927 shares in the last quarter. Keystone Financial Group raised its position in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. World Investment Advisors raised its position in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after acquiring an additional 63,359 shares in the last quarter. Fortress Financial Solutions LLC bought a new stake in AT&T in the fourth quarter worth about $691,000. Finally, DigitalBridge Group Inc. raised its position in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after acquiring an additional 365,776 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BNP Paribas upgraded shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a research report on Thursday, February 13th. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. Royal Bank of Canada lifted their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Finally, Citigroup reissued a "buy" rating on shares of AT&T in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Up 1.3%

T traded up $0.35 on Friday, reaching $27.73. 47,953,734 shares of the company traded hands, compared to its average volume of 36,774,351. The stock's 50 day moving average price is $27.36 and its 200-day moving average price is $25.29. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The company has a market cap of $199.53 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's payout ratio is 68.10%.

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.