Court Place Advisors LLC Increases Position in AT&T Inc. (NYSE:T)

Court Place Advisors LLC increased its holdings in AT&T Inc. (NYSE:T) by 1.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,876 shares of the technology company’s stock after purchasing an additional 430 shares during the period. Court Place Advisors LLC’s holdings in AT&T were worth $675,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in T. Brighton Jones LLC raised its position in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of AT&T by 39.7% in the fourth quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company’s stock worth $655,000 after purchasing an additional 8,179 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in shares of AT&T during the fourth quarter worth about $2,703,000. Independent Advisor Alliance grew its holdings in AT&T by 17.9% during the 4th quarter. Independent Advisor Alliance now owns 214,508 shares of the technology company’s stock valued at $4,884,000 after buying an additional 32,636 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new position in AT&T during the fourth quarter valued at $208,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on T. UBS Group reiterated a “buy” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. Barclays raised 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 lifted their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Finally, Evercore ISI lifted 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.05.

AT&T Price Performance

AT&T stock opened at $28.30 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average of $27.83 and a 200-day moving average of $26.23. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The firm has a market capitalization of $203.64 billion, a P/E ratio of 17.36, a PEG ratio of 4.67 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm 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%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s payout ratio is 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.