AT&T Inc. (NYSE:T) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 12.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,187 shares of the technology company’s stock after purchasing an additional 8,142 shares during the period. Procyon Advisors LLC’s holdings in AT&T were worth $2,126,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of AT&T by 1.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 240,392 shares of the technology company’s stock worth $5,474,000 after purchasing an additional 2,631 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AT&T by 33.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 635,331 shares of the technology company’s stock valued at $14,495,000 after purchasing an additional 159,252 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of AT&T by 8.2% in the 4th quarter. Private Management Group Inc. now owns 13,802 shares of the technology company’s stock valued at $314,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Trilogy Capital Inc. boosted its position in shares of AT&T by 8.6% in the 4th quarter. Trilogy Capital Inc. now owns 12,565 shares of the technology company’s stock valued at $286,000 after purchasing an additional 1,000 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $28.09 on Friday. The stock has a market capitalization of $202.12 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41. The business’s 50 day moving average is $27.32 and its two-hundred day moving average is $25.45. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.95%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analysts Set New Price Targets

Several research firms have commented on T. Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Tigress Financial increased their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, TD Securities raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

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.