Sweeney & Michel LLC Makes New $407,000 Investment in AT&T Inc. (NYSE:T)

Sweeney & Michel LLC acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,404 shares of the technology company's stock, valued at approximately $407,000.

A number of other institutional investors have also recently added to or reduced their stakes in T. Carolinas Wealth Consulting LLC grew its stake in shares of AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares in the last quarter. Buska Wealth Management LLC grew its stake in shares of AT&T by 3.2% in the fourth quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company's stock worth $305,000 after purchasing an additional 412 shares in the last quarter. 1620 Investment Advisors Inc. grew its stake in shares of AT&T by 1.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock worth $596,000 after purchasing an additional 421 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares in the last quarter. Finally, BNP Paribas boosted its stake in AT&T by 1.0% during the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company's stock valued at $942,000 after buying an additional 430 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on T. Evercore ISI raised their target price on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Royal Bank of Canada raised their target price on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Tigress Financial raised their target price on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Up 1.2%

T stock traded up $0.33 during mid-day trading on Thursday, hitting $27.69. The stock had a trading volume of 11,178,784 shares, compared to its average volume of 36,603,122. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $199.25 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.00 and a beta of 0.41. The company has a fifty day moving average of $27.34 and a 200 day moving average of $25.38. AT&T Inc. has a 1-year low of $17.42 and a 1-year high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.01%. AT&T's payout ratio is 68.10%.

About AT&T

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.