Resurgent Financial Advisors LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 141.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,348 shares of the technology company's stock after purchasing an additional 13,686 shares during the period. Resurgent Financial Advisors LLC's holdings in AT&T were worth $660,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of AT&T in the fourth quarter worth approximately $1,858,418,000. GQG Partners LLC lifted its stake in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 worth $1,216,665,000 after buying an additional 12,881,578 shares in the last quarter. Northern Trust Corp lifted its stake in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after buying an additional 10,945,679 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after buying an additional 7,347,354 shares in the last quarter. Institutional investors own 57.10% of the company's stock.
AT&T Price Performance
Shares of T traded down $0.07 during mid-day trading on Friday, reaching $26.92. The stock had a trading volume of 27,403,482 shares, compared to its average volume of 36,405,886. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The business has a fifty day moving average of $27.74 and a 200 day moving average of $26.47. AT&T Inc. has a 12 month low of $18.14 and a 12 month high of $29.19. The firm has a market cap of $193.71 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.36 and a beta of 0.42.
AT&T (NYSE:T - Get Free Report) last issued 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). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the company posted $0.55 EPS. AT&T's revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.
AT&T Announces Dividend
The business also recently announced 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 of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.12%. AT&T's dividend payout ratio is 68.10%.
Analysts Set New Price Targets
T has been the topic of several analyst reports. Cowen reiterated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday. Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. Finally, UBS Group reissued a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.17.
Check Out Our Latest Stock Analysis on T
AT&T Company Profile
(
Free Report)
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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