Rossby Financial LCC Buys 8,746 Shares of AT&T Inc. (NYSE:T)

Rossby Financial LCC raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 30.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,038 shares of the technology company's stock after acquiring an additional 8,746 shares during the period. Rossby Financial LCC's holdings in AT&T were worth $993,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. 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. Williams Trading set a $30.00 target price on shares of AT&T in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley reissued an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.90.

AT&T Trading Down 1.9%

T traded down $0.56 during mid-day trading on Wednesday, reaching $28.32. The stock had a trading volume of 46,984,239 shares, compared to its average volume of 36,448,001. The firm's fifty day simple moving average is $27.72 and its two-hundred day simple moving average is $26.03. The stock has a market capitalization of $203.78 billion, a P/E ratio of 17.37, a P/E/G ratio of 4.11 and a beta of 0.42. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate 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 was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. On average, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio is 68.10%.

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.