Kelly Financial Services LLC Buys Shares of 8,084 AT&T Inc. (NYSE:T)

Kelly Financial Services LLC bought a new stake in AT&T Inc. (NYSE:T) during the first quarter, Holdings Channel.com reports. The institutional investor bought 8,084 shares of the technology company’s stock, valued at approximately $229,000.

Other hedge funds also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new stake in AT&T during the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T during the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC increased its holdings in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on T. Oppenheimer boosted their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. 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 research note on Thursday, April 24th. Finally, Barclays lifted their price target on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Stock Performance

Shares of T opened at $28.32 on Thursday. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03. The company’s 50 day simple moving average is $27.35 and its 200 day simple moving average is $25.56. The company has a market capitalization of $203.74 billion, a price-to-earnings ratio of 19.00, 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.

AT&T (NYSE:T) last issued its quarterly earnings results 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). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. AT&T’s dividend payout ratio is presently 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.