Fiduciary Financial Group LLC Makes New $493,000 Investment in AT&T Inc. (NYSE:T)

Fiduciary Financial Group LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,665 shares of the technology company’s stock, valued at approximately $493,000.

A number of other large investors also recently made changes to their positions in T. Simplicity Wealth LLC grew its stake in shares of AT&T by 161.7% during the first quarter. Simplicity Wealth LLC now owns 40,674 shares of the technology company’s stock valued at $1,150,000 after acquiring an additional 25,129 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of AT&T by 15.5% during the first quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company’s stock valued at $4,673,000 after acquiring an additional 22,195 shares in the last quarter. International Private Wealth Advisors LLC grew its stake in shares of AT&T by 11.2% during the first quarter. International Private Wealth Advisors LLC now owns 25,821 shares of the technology company’s stock valued at $730,000 after acquiring an additional 2,603 shares in the last quarter. Tounjian Advisory Partners LLC acquired a new stake in shares of AT&T during the first quarter valued at about $3,631,000. Finally, WFA Asset Management Corp grew its stake in shares of AT&T by 28.1% during the first quarter. WFA Asset Management Corp now owns 199,914 shares of the technology company’s stock valued at $5,654,000 after acquiring an additional 43,882 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays raised their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Tigress Financial increased their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Evercore ISI increased their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. 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 analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Price Performance

Shares of NYSE:T opened at $27.88 on Tuesday. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03. The stock has a market cap of $200.58 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.00 and a beta of 0.41. The stock’s 50 day moving average price is $27.32 and its 200 day moving average price is $25.52. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last announced its 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 return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the firm earned $0.55 EPS. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. AT&T’s dividend payout ratio 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.