Truist Financial Corp Purchases 195,998 Shares of AT&T Inc. (NYSE:T)

Truist Financial Corp boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,317,318 shares of the technology company's stock after buying an additional 195,998 shares during the period. Truist Financial Corp owned approximately 0.07% of AT&T worth $150,374,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in shares of 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. Proficio Capital Partners LLC grew its stake in shares of AT&T by 39.7% during the 4th quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company's stock worth $655,000 after acquiring an additional 8,179 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of AT&T by 1.8% in the fourth quarter. Lindbrook Capital LLC now owns 38,882 shares of the technology company's stock valued at $885,000 after buying an additional 700 shares in the last quarter. Candriam S.C.A. grew its stake in shares of AT&T by 6.7% in the fourth quarter. Candriam S.C.A. now owns 556,249 shares of the technology company's stock valued at $12,666,000 after buying an additional 34,700 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in shares of AT&T by 64.2% in the fourth quarter. E Fund Management Co. Ltd. now owns 17,761 shares of the technology company's stock valued at $404,000 after buying an additional 6,946 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock traded up $0.02 during midday trading on Friday, reaching $28.33. The company's stock had a trading volume of 21,085,177 shares, compared to its average volume of 36,496,958. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.19. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average price of $27.79 and a 200-day moving average price of $26.12. The stock has a market cap of $203.82 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.

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

AT&T Announces Dividend

The company 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 $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. AT&T's dividend payout ratio (DPR) is currently 68.10%.

Analyst Ratings Changes

T has been the subject of several analyst reports. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Wells Fargo & Company raised their price target on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average target price of $28.90.

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.