Rollins Financial Advisors LLC Grows Position in AT&T Inc. $T

Key Points

• Rollins Financial Advisors LLC increased its holdings in AT&T by 51.7% during the 1st quarter, acquiring an additional 12,164 shares and bringing its total to 35,711 shares, valued at approximately $1,010,000.
• Several other hedge funds have also raised their stakes in AT&T, with increases in ownership from notable investors, reflecting growing institutional interest in the company.
• AT&T reported earnings of $0.54 per share for the last quarter, exceeding analysts' expectations, and the company also announced a quarterly dividend of $0.2775 per share, indicating a strong financial position.

Rollins Financial Advisors LLC grew its holdings in AT&T Inc. (NYSE:T - Free Report) by 51.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,711 shares of the technology company's stock after purchasing an additional 12,164 shares during the period. Rollins Financial Advisors LLC's holdings in AT&T were worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC acquired a new position in AT&T during the 4th quarter worth about $213,000. Minot DeBlois Advisors LLC acquired a new position in AT&T during the 4th quarter worth about $25,000. Occudo Quantitative Strategies LP acquired a new position in AT&T during the 4th quarter worth about $324,000. Finally, Northeast Financial Consultants Inc lifted its stake in AT&T by 7.8% during the 4th quarter. Northeast Financial Consultants Inc now owns 11,104 shares of the technology company's stock worth $253,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on T shares. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. UBS Group set a $32.00 target price on shares of AT&T in a report on Thursday, September 4th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Finally, Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, AT&T has an average rating of "Moderate Buy" and a consensus target price of $30.60.

AT&T Stock Up 0.3%

Shares of NYSE T traded up $0.10 during midday trading on Friday, hitting $29.59. 22,789,775 shares of the company's stock were exchanged, compared to its average volume of 28,351,510. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a market cap of $211.58 billion, a PE ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. The firm's fifty day simple moving average is $28.31 and its 200-day simple moving average is $27.73.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) 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.