MJT & Associates Financial Advisory Group Inc. Invests $31,000 in AT&T Inc. (NYSE:T)

MJT & Associates Financial Advisory Group Inc. purchased a new position in AT&T Inc. (NYSE:T) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,113 shares of the technology company’s stock, valued at approximately $31,000.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of AT&T in the fourth quarter worth approximately $229,000. Schroder Investment Management Group boosted its position in shares of AT&T by 66.2% in the fourth quarter. Schroder Investment Management Group now owns 5,285,236 shares of the technology company’s stock worth $120,345,000 after purchasing an additional 2,104,603 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of AT&T by 14.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 274,643 shares of the technology company’s stock worth $6,092,000 after purchasing an additional 34,623 shares during the period. Finally, Physician Wealth Advisors Inc. bought a new position in shares of AT&T in the fourth quarter worth approximately $161,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent analyst reports. Scotiabank upped their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Raymond James Financial reiterated a “strong-buy” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Barclays lifted 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. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Finally, HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.66.

AT&T Price Performance

AT&T stock opened at $27.61 on Tuesday. The firm has a 50-day moving average price of $27.80 and a 200-day moving average price of $26.72. The firm has a market capitalization of $198.67 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.49 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $18.64 and a 12-month high of $29.19.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the business earned $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.02%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

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.