Southern Capital Advisors LLC Takes $267,000 Position in AT&T Inc. (NYSE:T)

Southern Capital Advisors LLC acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,449 shares of the technology company's stock, valued at approximately $267,000.

A number of other institutional investors also recently modified their holdings of T. Keystone Financial Group increased its stake in shares of AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after buying an additional 143,744 shares during the period. Capstone Wealth Management LLC purchased a new position in AT&T during the 1st quarter valued at $201,000. World Investment Advisors raised its holdings in AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after purchasing an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. lifted its position in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after purchasing an additional 365,776 shares during the period. Finally, West Family Investments Inc. increased its position in shares of AT&T by 70.4% during the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock valued at $864,000 after buying an additional 15,680 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

AT&T stock traded down $0.35 during mid-day trading on Wednesday, reaching $27.93. 24,154,594 shares of the stock traded hands, compared to its average volume of 36,467,475. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The business's 50-day moving average is $27.57 and its 200-day moving average is $25.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock has a market capitalization of $200.97 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 4.00 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the company earned $0.55 EPS. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays raised their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Tigress Financial lifted their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. UBS Group reiterated a "buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. TD Securities boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company increased their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $28.76.

AT&T 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.