Griffin Asset Management Inc. Has $2.09 Million Stock Position in AT&T Inc. (NYSE:T)

Griffin Asset Management Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 118,531 shares of the technology company’s stock after purchasing an additional 6,134 shares during the period. Griffin Asset Management Inc.’s holdings in AT&T were worth $2,086,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Sora Investors LLC bought a new stake in shares of AT&T in the 3rd quarter valued at $11,265,000. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in AT&T during the fourth quarter valued at $11,554,000. Provence Wealth Management Group grew its holdings in AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after acquiring an additional 5,807 shares during the period. Clearbridge Investments LLC raised its position in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares in the last quarter. Finally, Retireful LLC acquired a new position in shares of AT&T in the 4th quarter valued at about $1,163,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on T. UBS Group reiterated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. Finally, Scotiabank upped their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

AT&T Price Performance

NYSE:T traded up $0.36 during trading hours on Friday, hitting $19.11. 52,825,162 shares of the company’s stock traded hands, compared to its average volume of 33,874,564. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.13. The business’s fifty day simple moving average is $17.57 and its two-hundred day simple moving average is $17.17. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a market cap of $137.02 billion, a P/E ratio of 10.28, a P/E/G ratio of 4.26 and a beta of 0.60.

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 business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Company Profile

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.