PFG Investments LLC Purchases 264,115 Shares of AT&T Inc. (NYSE:T)

PFG Investments LLC increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 335.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,827 shares of the technology company's stock after purchasing an additional 264,115 shares during the quarter. PFG Investments LLC's holdings in AT&T were worth $6,034,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in T. Norges Bank purchased a new stake in shares of AT&T during the 4th quarter worth $1,118,288,000. Ameriprise Financial Inc. raised its stake in AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company's stock valued at $790,301,000 after buying an additional 34,189,954 shares during the last quarter. FMR LLC raised its stake in AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company's stock valued at $863,884,000 after buying an additional 32,558,342 shares during the last quarter. Thornburg Investment Management Inc. purchased a new stake in AT&T in the fourth quarter valued at about $316,472,000. Finally, California Public Employees Retirement System raised its stake in AT&T by 38.0% in the third quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company's stock valued at $519,070,000 after buying an additional 9,518,478 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. StockNews.com upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. upgraded AT&T from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Barclays lifted their target price on AT&T from $17.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 31st. Citigroup lifted their target price on AT&T from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. Finally, TheStreet raised AT&T from a "c" rating to a "b-" rating in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.81.

AT&T Price Performance

Shares of AT&T stock traded up $0.17 on Friday, reaching $16.75. The company's stock had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The company has a market capitalization of $119.81 billion, a P/E ratio of 9.01, a PEG ratio of 2.50 and a beta of 0.57. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The stock has a 50-day moving average price of $16.96 and a 200-day moving average price of $16.57. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analysts' expectations of $30.62 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The firm's revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T's dividend payout ratio (DPR) is currently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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