Capital Investment Advisors LLC Grows Position in AT&T Inc. (NYSE:T)

Capital Investment Advisors LLC raised its position in AT&T Inc. (NYSE:T – Get Rating) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 980,475 shares of the technology company’s stock after purchasing an additional 55,806 shares during the quarter. Capital Investment Advisors LLC’s holdings in AT&T were worth $23,169,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. New World Advisors LLC grew its stake in shares of AT&T by 156.1% in the third quarter. New World Advisors LLC now owns 22,642 shares of the technology company’s stock valued at $577,000 after buying an additional 13,800 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of AT&T in the third quarter valued at about $29,000. Wellington Management Group LLP grew its stake in shares of AT&T by 8.0% in the third quarter. Wellington Management Group LLP now owns 2,012,860 shares of the technology company’s stock valued at $54,367,000 after buying an additional 149,395 shares in the last quarter. Kozak & Associates Inc. acquired a new stake in shares of AT&T in the third quarter valued at about $50,000. Finally, Captrust Financial Advisors grew its stake in shares of AT&T by 11.6% in the third quarter. Captrust Financial Advisors now owns 1,183,431 shares of the technology company’s stock valued at $31,964,000 after buying an additional 123,210 shares in the last quarter. Institutional investors own 53.47% of the company’s stock.

Shares of NYSE T opened at $20.32 on Thursday. The company has a market cap of $145.47 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 2.15 and a beta of 0.57. AT&T Inc. has a 12-month low of $16.62 and a 12-month high of $22.15. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.97. The stock’s 50 day simple moving average is $20.09 and its 200 day simple moving average is $22.75.

AT&T (NYSE:T – Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The technology company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). The company had revenue of $38.10 billion during the quarter, compared to the consensus estimate of $38.29 billion. AT&T had a return on equity of 13.19% and a net margin of 10.64%. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. As a group, equities analysts forecast that AT&T Inc. will post 2.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Thursday, April 14th were paid a dividend of $0.278 per share. This represents a $1.11 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend was Wednesday, April 13th. AT&T’s payout ratio is currently 46.84%.

A number of brokerages have weighed in on T. Moffett Nathanson began coverage on AT&T in a research note on Tuesday, April 5th. They set a $19.00 price objective for the company. Wolfe Research lowered their price objective on AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. Morgan Stanley lowered their price objective on AT&T from $28.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 13th. Tigress Financial lowered their price objective on AT&T from $31.00 to $28.00 in a research note on Thursday, June 16th. Finally, JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $34.00 to $22.00 in a research report on Monday, April 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.48.

About AT&T (Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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