Mills Wealth Advisors LLC Takes $308,000 Position in AT&T Inc. (NYSE:T)

Mills Wealth Advisors LLC bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,908 shares of the technology company's stock, valued at approximately $308,000.

Several other large investors have also recently modified their holdings of T. Keystone Financial Group boosted its holdings in AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after acquiring an additional 143,744 shares during the period. Capstone Wealth Management LLC purchased a new position in AT&T during the 1st quarter valued at $201,000. World Investment Advisors boosted its holdings in AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after acquiring an additional 63,359 shares during the period. DigitalBridge Group Inc. boosted its holdings in AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after acquiring an additional 365,776 shares during the period. Finally, West Family Investments Inc. boosted its holdings in AT&T by 70.4% during the 4th quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock valued at $864,000 after acquiring an additional 15,680 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.1%

Shares of NYSE:T opened at $28.33 on Friday. The business's 50-day moving average is $27.79 and its 200 day moving average is $26.12. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The firm has a market capitalization of $203.82 billion, a P/E ratio of 17.38, a P/E/G ratio of 4.02 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued 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 dividend payout ratio is presently 68.10%.

Analysts Set New Price Targets

A number of research firms recently issued reports on T. Scotiabank restated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Tigress Financial upped 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. Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Finally, Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.