USA Financial Formulas Invests $1.19 Million in AT&T Inc. (NYSE:T)

USA Financial Formulas bought a new stake in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 42,038 shares of the technology company's stock, valued at approximately $1,189,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in AT&T in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new position in AT&T in the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in AT&T in the 4th quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC raised its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after acquiring an additional 430 shares during the period. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. TD Securities increased their price target 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. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Cowen reiterated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Scotiabank reiterated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $28.71.

AT&T Price Performance

Shares of T traded down $0.14 during trading hours on Friday, reaching $28.13. The stock had a trading volume of 22,422,913 shares, compared to its average volume of 36,665,525. AT&T Inc. has a 12 month low of $17.49 and a 12 month high of $29.03. The stock has a market capitalization of $202.43 billion, a PE ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company's 50-day moving average is $27.41 and its two-hundred day moving average is $25.64.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T's payout ratio is 68.10%.

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.