AT&T Inc. $T Shares Bought by Synovus Financial Corp

Synovus Financial Corp increased its stake in AT&T Inc. (NYSE:T) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 857,958 shares of the technology company’s stock after purchasing an additional 2,759 shares during the period. Synovus Financial Corp’s holdings in AT&T were worth $24,263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Minot DeBlois Advisors LLC purchased a new position in AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the 4th quarter worth approximately $25,000. Stone House Investment Management LLC purchased a new position in AT&T during the 1st quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in AT&T during the 4th quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC raised its position in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on T shares. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, Scotiabank raised 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.21.

AT&T Price Performance

NYSE:T opened at $28.7290 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $205.42 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42. The company has a 50 day moving average price of $27.99 and a 200-day moving average price of $27.38. AT&T Inc. has a 1-year low of $19.51 and a 1-year high of $29.65.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

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.