Private Advisor Group LLC Grows Holdings in AT&T Inc. (NYSE:T)

Private Advisor Group LLC lifted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,847 shares of the technology company's stock after acquiring an additional 18,402 shares during the quarter. Private Advisor Group LLC's holdings in AT&T were worth $18,547,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of T. Norges Bank acquired a new position in AT&T in the fourth quarter valued at $1,858,418,000. GQG Partners LLC increased its stake in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AT&T by 31.8% in the fourth 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 valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp increased its stake in AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Invesco Ltd. increased its stake in AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after acquiring an additional 7,347,354 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the subject of several analyst reports. TD Securities upped their target price on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Evercore ISI upped their target price on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Tigress Financial increased 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, Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $29.17.

AT&T Trading Down 0.3%

Shares of T stock traded down $0.07 on Friday, hitting $26.92. The stock had a trading volume of 27,403,482 shares, compared to its average volume of 36,405,886. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The firm has a market cap of $193.71 billion, a P/E ratio of 16.52, a PEG ratio of 3.36 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average price of $27.74 and a two-hundred day moving average price of $26.47.

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 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 analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T's dividend 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.