Park Square Financial Group LLC Takes Position in AT&T Inc. (NYSE:T)

Park Square Financial Group LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,374 shares of the technology company's stock, valued at approximately $305,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of AT&T during the 4th quarter valued at about $1,858,418,000. GQG Partners LLC raised its holdings in shares of AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp increased its holdings in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on T. Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Finally, Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Performance

Shares of NYSE T traded down $0.13 during midday trading on Thursday, reaching $27.38. 27,164,649 shares of the company traded hands, compared to its average volume of 36,785,781. The company has a market cap of $196.98 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 3.00 and a beta of 0.42. The stock has a 50-day moving average price of $27.34 and a 200 day moving average price of $25.20. AT&T Inc. has a 52 week low of $17.11 and a 52 week high of $29.03. 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 announced 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 company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.05%. AT&T's dividend payout ratio is presently 68.10%.

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.