Sweeney & Michel LLC Invests $407,000 in AT&T Inc. (NYSE:T)

Sweeney & Michel LLC 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 and Exchange Commission. The institutional investor purchased 15,404 shares of the technology company’s stock, valued at approximately $407,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Consolidated Planning Corp boosted its stake in AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Keystone Financial Group raised its position in shares of AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after buying an additional 143,744 shares during the last quarter. World Investment Advisors lifted its stake in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after buying an additional 63,359 shares in the last quarter. Fortress Financial Solutions LLC acquired a new position in AT&T during the fourth quarter worth about $691,000. Finally, DigitalBridge Group Inc. grew its stake in AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. Barclays boosted their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Oppenheimer upped their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company boosted 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. Finally, BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Trading Up 1.3%

Shares of NYSE T opened at $27.73 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $199.53 billion, a PE ratio of 18.61, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a twelve month low of $17.42 and a twelve month high of $29.03. The stock has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $25.31.

AT&T (NYSE:T) last announced its 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 firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

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.