Bleakley Financial Group LLC Purchases 17,315 Shares of AT&T Inc. (NYSE:T)

Bleakley Financial Group LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 257,045 shares of the technology company’s stock after purchasing an additional 17,315 shares during the quarter. Bleakley Financial Group LLC’s holdings in AT&T were worth $4,524,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of T. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of AT&T by 1.7% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after buying an additional 598 shares in the last quarter. Klingman & Associates LLC lifted its holdings in AT&T by 3.1% during the first quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock worth $350,000 after acquiring an additional 603 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the last quarter. JB Capital LLC grew its stake in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after purchasing an additional 614 shares during the period. Finally, Fortitude Family Office LLC increased its position in shares of AT&T by 1.5% during the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after purchasing an additional 614 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.6 %

NYSE T traded up $0.30 during trading on Wednesday, hitting $19.15. The company had a trading volume of 40,583,075 shares, compared to its average volume of 36,292,949. The company’s fifty day moving average is $18.05 and its 200-day moving average is $17.37. AT&T Inc. has a one year low of $13.43 and a one year high of $19.32. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The company has a market cap of $137.31 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 3.51 and a beta of 0.58.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The business’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The firm 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Finally, Oppenheimer restated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research report on Tuesday, June 25th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.85.

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.