Saxon Interests Inc. Buys Shares of 8,611 AT&T Inc. (NYSE:T)

Saxon Interests Inc. purchased a new position in shares of AT&T Inc. (NYSE:T) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,611 shares of the technology company’s stock, valued at approximately $244,000.

Other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in AT&T in the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the 4th quarter worth $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the fourth quarter worth $27,000. Ball & Co Wealth Management Inc. bought a new position in shares of AT&T in the fourth quarter worth $30,000. Finally, REAP Financial Group LLC increased its holdings in shares of AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock valued at $31,000 after purchasing an additional 727 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $28.97 on Tuesday. The company has a market capitalization of $208.46 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 3.98 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The stock has a fifty day moving average of $27.68 and a 200-day moving average of $26.01. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s payout ratio is 68.10%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. Barclays raised their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Tigress Financial upped 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. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, TD Securities raised their price objective 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.90.

AT&T Company 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.