Financial Advisors Network Inc. Takes $210,000 Position in AT&T Inc. $T

Financial Advisors Network Inc. purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,439 shares of the technology company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Nuveen LLC bought a new position in AT&T in the first quarter valued at approximately $1,072,128,000. GQG Partners LLC raised its holdings in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Northern Trust Corp raised its holdings in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on T shares. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, June 17th. Wells Fargo & Company increased their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.21.

AT&T Stock Up 0.2%

AT&T stock opened at $28.92 on Tuesday. The firm has a market capitalization of $206.79 billion, a PE ratio of 16.43, a P/E/G ratio of 3.57 and a beta of 0.42. The company’s 50-day moving average is $27.93 and its 200-day moving average is $27.27. AT&T Inc. has a fifty-two week low of $19.34 and a fifty-two week high of $29.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T’s payout ratio is currently 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.