Strategic Financial Concepts LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Strategic Financial Concepts LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,235 shares of the technology company’s stock after purchasing an additional 864 shares during the period. Strategic Financial Concepts LLC’s holdings in AT&T were worth $708,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of T. Sora Investors LLC purchased a new position in AT&T in the 3rd quarter valued at about $11,265,000. Robeco Institutional Asset Management B.V. boosted its position in AT&T by 2.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock worth $259,219,000 after acquiring an additional 383,015 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after acquiring an additional 1,178 shares during the last quarter. Retireful LLC acquired a new position in AT&T in the 4th quarter valued at $1,163,000. Finally, Terril Brothers Inc. raised its holdings in AT&T by 51.6% in the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after acquiring an additional 202,637 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.7 %

Shares of NYSE T traded down $0.12 on Tuesday, hitting $16.90. The company had a trading volume of 31,792,882 shares, compared to its average volume of 39,373,371. The firm has a market capitalization of $120.85 billion, a P/E ratio of 9.08, a PEG ratio of 3.32 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The business has a 50 day moving average of $16.97 and a two-hundred day moving average of $16.62.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T 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.