Philip James Wealth Mangement LLC Acquires 8,942 Shares of AT&T Inc. (NYSE:T)

Philip James Wealth Mangement LLC increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 88.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,029 shares of the technology company's stock after buying an additional 8,942 shares during the quarter. Philip James Wealth Mangement LLC's holdings in AT&T were worth $538,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new position in AT&T in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new stake in AT&T in the 4th quarter valued at about $27,000. Ball & Co Wealth Management Inc. bought a new stake in AT&T in the 4th quarter valued at about $30,000. Finally, REAP Financial Group LLC grew its stake in AT&T by 115.2% in the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after acquiring an additional 727 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on T. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Oppenheimer increased their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Scotiabank reiterated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Wells Fargo & Company boosted their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $28.76.

AT&T Trading Up 0.4%

Shares of T stock opened at $28.04 on Friday. The firm has a market cap of $201.73 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 3.96 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The business has a 50-day moving average price of $27.61 and a two-hundred day moving average price of $25.91.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.96%. AT&T's payout ratio is 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.

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