AT&T Inc. (NYSE:T) Position Increased by Allegheny Financial Group LTD

Allegheny Financial Group LTD increased its position in shares of AT&T Inc. (NYSE:TFree Report) by 15.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 43,118 shares of the technology company’s stock after buying an additional 5,841 shares during the quarter. Allegheny Financial Group LTD’s holdings in AT&T were worth $724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after buying an additional 598 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares in the last quarter. JB Capital LLC lifted its position in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after acquiring an additional 614 shares in the last quarter. Connecticut Wealth Management LLC lifted its position in AT&T by 3.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after acquiring an additional 620 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its position in AT&T by 0.6% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock valued at $1,877,000 after acquiring an additional 630 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on T shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Scotiabank boosted their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Citigroup boosted their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

View Our Latest Report on T

AT&T Stock Performance

Shares of T stock traded up $0.10 on Friday, reaching $17.40. The stock had a trading volume of 25,891,151 shares, compared to its average volume of 35,199,848. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average is $17.02 and its two-hundred day moving average is $16.80. The firm has a market capitalization of $124.76 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 3.42 and a beta of 0.57. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:TGet Free Report) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the prior year, the firm earned $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.38%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

AT&T Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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