AssuredPartners Investment Advisors LLC Makes New $233,000 Investment in AT&T Inc. (NYSE:T)

AssuredPartners Investment Advisors LLC bought a new position in AT&T Inc. (NYSE:T) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,233 shares of the technology company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also bought and sold shares of T. Brighton Jones LLC raised its position in shares of AT&T by 26.5% during the fourth 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. Crestwood Advisors Group LLC grew its stake in AT&T by 15.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 22,881 shares of the technology company’s stock worth $521,000 after purchasing an additional 3,086 shares during the period. Pinnacle West Asset Management Inc. grew its stake in AT&T by 3.1% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 33,202 shares of the technology company’s stock worth $756,000 after purchasing an additional 1,000 shares during the period. Cavalier Investments LLC grew its stake in AT&T by 4.3% during the fourth quarter. Cavalier Investments LLC now owns 124,252 shares of the technology company’s stock worth $2,829,000 after purchasing an additional 5,136 shares during the period. Finally, Lake Street Advisors Group LLC grew its stake in AT&T by 2.3% during the fourth quarter. Lake Street Advisors Group LLC now owns 75,247 shares of the technology company’s stock worth $1,713,000 after purchasing an additional 1,685 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on T. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. TD Securities raised their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. Tigress Financial raised their price objective on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.76.

AT&T Stock Performance

Shares of AT&T stock opened at $27.93 on Thursday. The business’s fifty day simple moving average is $27.59 and its 200 day simple moving average is $25.87. The firm has a market capitalization of $200.97 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 4.01 and a beta of 0.41. AT&T Inc. has a 12 month low of $18.14 and a 12 month high of $29.03. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.97%. AT&T’s dividend payout ratio (DPR) is currently 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.