Phoenix Financial Ltd. Buys New Position in AT&T Inc. (NYSE:T)

Key Points

• Phoenix Financial Ltd. has acquired a new position in AT&T Inc., purchasing 24,861 shares valued at approximately $707,000 in the first quarter.
• Multiple institutional investors have increased their stakes in AT&T, with institutional ownership now at 57.10% of the company's stock.
• AT&T's recent quarterly earnings report showed an EPS of $0.54, exceeding estimated earnings and reflecting a year-over-year revenue increase of 3.4%.

Phoenix Financial Ltd. bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,861 shares of the technology company's stock, valued at approximately $707,000.

Other large investors have also bought and sold shares of the company. AllSquare Wealth Management LLC boosted its position in AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after acquiring an additional 378 shares during the period. Next Level Private LLC boosted its position in AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares during the period. Carolinas Wealth Consulting LLC boosted its position in AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after acquiring an additional 384 shares during the period. Kozak & Associates Inc. boosted its position in AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after acquiring an additional 398 shares during the period. Finally, Silver Oak Securities Incorporated boosted its position in AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after acquiring an additional 398 shares during the period. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the subject of several research reports. Oppenheimer lifted their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Tigress Financial lifted their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, TD Securities lifted their price target on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $29.66.

AT&T Stock Performance

Shares of NYSE T opened at $28.02 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The business's 50 day moving average is $27.81 and its two-hundred day moving average is $26.62. The company has a market cap of $201.58 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.48 and a beta of 0.42. AT&T Inc. has a 12 month low of $18.64 and a 12 month high of $29.19.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is currently 63.07%.

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.

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