Conning Inc. Has $1.63 Million Stock Holdings in AT&T Inc. (NYSE:T)

Conning Inc. boosted its holdings in AT&T Inc. (NYSE:T) by 38.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,688 shares of the technology company’s stock after buying an additional 16,024 shares during the quarter. Conning Inc.’s holdings in AT&T were worth $1,631,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Keystone Financial Group raised its position in 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 purchasing an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC bought a new stake in shares of AT&T during the first quarter worth about $201,000. World Investment Advisors grew its holdings in shares of AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after purchasing an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. increased its stake in shares of AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after buying an additional 365,776 shares during the period. Finally, West Family Investments Inc. raised its holdings in AT&T by 70.4% in the 4th quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock valued at $864,000 after buying an additional 15,680 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. Evercore ISI lifted their target price 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. Oppenheimer raised their price target on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Royal Bank Of Canada lifted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, UBS Group reaffirmed a “buy” rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.90.

AT&T Stock Up 0.1%

Shares of NYSE T opened at $28.33 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The firm has a market cap of $203.82 billion, a PE ratio of 17.38, a P/E/G ratio of 4.02 and a beta of 0.42. The company’s fifty day simple moving average is $27.76 and its 200 day simple moving average is $26.08. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19.

AT&T (NYSE:T) last released its quarterly earnings data 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). The company 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%. AT&T’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s payout ratio 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.