Strategic Financial Concepts LLC Purchases 864 Shares of AT&T Inc. (NYSE:T)

Strategic Financial Concepts LLC raised its position in shares of AT&T Inc. (NYSE:T) by 2.2% in the first quarter, Holdings Channel reports. The fund owned 40,235 shares of the technology company’s stock after buying an additional 864 shares during the quarter. Strategic Financial Concepts LLC’s holdings in AT&T were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Norges Bank acquired a new position in AT&T during the 4th quarter valued at $1,118,288,000. Ameriprise Financial Inc. raised its position in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares during the last quarter. FMR LLC lifted its stake in shares of AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after buying an additional 32,558,342 shares during the period. Thornburg Investment Management Inc. acquired a new stake in AT&T during the fourth quarter worth about $316,472,000. Finally, California Public Employees Retirement System increased its stake in AT&T by 38.0% during the third quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after acquiring an additional 9,518,478 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup raised their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Tigress Financial raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Price Performance

Shares of NYSE:T traded down $0.12 during trading on Tuesday, reaching $16.90. The stock had a trading volume of 31,792,882 shares, compared to its average volume of 39,373,371. The business’s 50-day moving average price is $16.97 and its 200 day moving average price is $16.62. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The stock has a market capitalization of $120.85 billion, a PE ratio of 9.08, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.