AlphaStar Capital Management LLC Has $2.54 Million Holdings in AT&T Inc. (NYSE:T)

AlphaStar Capital Management LLC lifted its holdings in AT&T Inc. (NYSE:T) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,934 shares of the technology company’s stock after purchasing an additional 3,186 shares during the period. AlphaStar Capital Management LLC’s holdings in AT&T were worth $2,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Core Alternative Capital increased its holdings in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the period. Capital A Wealth Management LLC bought a new position in shares of AT&T during the 4th quarter worth about $25,000. Minot DeBlois Advisors LLC bought a new position in shares of AT&T during the 4th quarter worth about $25,000. Putney Financial Group LLC bought a new position in shares of AT&T during the 4th quarter worth about $27,000. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of AT&T during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on T shares. Scotiabank restated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. UBS Group reissued a “buy” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Oppenheimer increased their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Finally, Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.05.

AT&T Price Performance

T opened at $28.32 on Tuesday. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The company’s 50 day simple moving average is $27.81 and its 200-day simple moving average is $26.21. The stock has a market capitalization of $203.81 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. AT&T’s 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.