SPC Financial Inc. Raises Stock Position in AT&T Inc. (NYSE:T)

SPC Financial Inc. grew its holdings in AT&T Inc. (NYSE:T) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,415 shares of the technology company’s stock after purchasing an additional 1,806 shares during the quarter. SPC Financial Inc.’s holdings in AT&T were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in T. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of AT&T during the 4th quarter worth about $11,554,000. Provence Wealth Management Group increased its stake in AT&T by 55.8% in the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares during the last quarter. Retireful LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $1,163,000. Finally, Brighton Jones LLC boosted its holdings in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 1.2 %

Shares of NYSE T opened at $18.63 on Friday. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.32. The firm’s 50 day moving average price is $17.94 and its 200 day moving average price is $17.31. The firm has a market cap of $133.58 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 3.54 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last announced its quarterly 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 for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.96%. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and issued a $21.00 price target on shares of AT&T in a research report on Tuesday, June 25th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. UBS Group reissued a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target on shares of AT&T in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $21.85.

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.