Investmark Advisory Group LLC Increases Stake in AT&T Inc. $T

Investmark Advisory Group LLC increased its position in shares of AT&T Inc. (NYSE:T) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 143,501 shares of the technology company’s stock after purchasing an additional 1,262 shares during the period. AT&T makes up 2.0% of Investmark Advisory Group LLC’s portfolio, making the stock its 15th largest holding. Investmark Advisory Group LLC’s holdings in AT&T were worth $4,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC purchased a new stake in AT&T in the fourth quarter worth $213,000. Cary Street Partners Financial LLC bought a new stake in shares of AT&T during the fourth quarter worth $1,067,000. CoreCap Advisors LLC boosted its stake in shares of AT&T by 23.9% during the fourth quarter. CoreCap Advisors LLC now owns 64,841 shares of the technology company’s stock valued at $1,476,000 after purchasing an additional 12,489 shares during the period. Finally, EP Wealth Advisors LLC grew its holdings in shares of AT&T by 31.7% in the fourth quarter. EP Wealth Advisors LLC now owns 205,279 shares of the technology company’s stock worth $4,674,000 after purchasing an additional 49,386 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on T shares. UBS Group reiterated a “buy” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Scotiabank boosted their price target on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.55.

AT&T Stock Performance

Shares of T stock opened at $29.56 on Friday. The firm has a market cap of $211.33 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 3.59 and a beta of 0.44. AT&T Inc. has a 52-week low of $20.52 and a 52-week high of $29.70. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $28.20 and its 200 day moving average is $27.60.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

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.