Steward Partners Investment Advisory LLC Acquires 12,559 Shares of AT&T Inc. (NYSE:T)

Key Points

• Steward Partners Investment Advisory LLC has increased its holdings in AT&T Inc. by 1.1%, owning 1,175,896 shares valued at approximately $33.25 million after acquiring an additional 12,559 shares in the first quarter.
• AT&T's recent quarterly earnings reported an EPS of $0.54, surpassing expectations, with a revenue of $30.85 billion, marking a 3.4% increase from the prior year.
• The company declared a quarterly dividend of $0.2775, yielding around 3.8%, with a current dividend payout ratio of 63.07%.

Steward Partners Investment Advisory LLC lifted its holdings in AT&T Inc. (NYSE:T - Free Report) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,175,896 shares of the technology company's stock after buying an additional 12,559 shares during the period. Steward Partners Investment Advisory LLC's holdings in AT&T were worth $33,254,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in T. Twin Focus Capital Partners LLC boosted its stake in shares of AT&T by 11.4% during the 1st quarter. Twin Focus Capital Partners LLC now owns 19,526 shares of the technology company's stock worth $552,000 after purchasing an additional 1,991 shares during the period. Tocqueville Asset Management L.P. boosted its stake in shares of AT&T by 2.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 128,971 shares of the technology company's stock worth $3,647,000 after purchasing an additional 3,167 shares during the period. American Century Companies Inc. boosted its stake in shares of AT&T by 10.7% during the 1st quarter. American Century Companies Inc. now owns 7,645,589 shares of the technology company's stock worth $216,217,000 after purchasing an additional 738,182 shares during the period. Ethic Inc. boosted its stake in shares of AT&T by 5.5% during the 1st quarter. Ethic Inc. now owns 1,080,681 shares of the technology company's stock worth $30,778,000 after purchasing an additional 56,611 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of AT&T by 14.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 43,186 shares of the technology company's stock worth $1,221,000 after purchasing an additional 5,596 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.5%

T stock opened at $28.89 on Friday. The firm has a market cap of $206.57 billion, a PE ratio of 16.41, a P/E/G ratio of 3.57 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm's fifty day moving average is $27.90 and its 200 day moving average is $27.21. AT&T Inc. has a one year low of $19.08 and a one year high of $29.19.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on T. Tigress Financial boosted their price objective on shares of 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 reissued a "buy" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Williams Trading set a $30.00 price objective on shares of AT&T in a research report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada upped their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.21.

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.

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