Farther Finance Advisors LLC Buys 43,521 Shares of AT&T Inc. (NYSE:T)

Farther Finance Advisors LLC boosted its stake in AT&T Inc. (NYSE:T) by 39.8% during the 1st quarter, HoldingsChannel reports. The fund owned 152,843 shares of the technology company’s stock after acquiring an additional 43,521 shares during the quarter. Farther Finance Advisors LLC’s holdings in AT&T were worth $4,353,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in T. Minot DeBlois Advisors LLC bought a new stake in AT&T during the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the 4th quarter worth about $25,000. Putney Financial Group LLC bought a new stake in AT&T during the 4th quarter worth about $27,000. Marshall Investment Management LLC bought a new stake in AT&T during the 4th quarter worth about $28,000. Finally, Tradewinds Capital Management LLC lifted its position in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on T shares. Scotiabank reissued an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Royal Bank of Canada upped their target price on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Evercore ISI upped their target price on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Stock Performance

Shares of NYSE:T opened at $27.88 on Tuesday. The company’s 50 day moving average price is $27.32 and its two-hundred day moving average price is $25.52. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The firm has a market cap of $200.58 billion, a PE ratio of 18.71, a PEG ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

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 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.98%. AT&T’s payout ratio is presently 68.10%.

About AT&T

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.