Verum Partners LLC Purchases 839 Shares of AT&T Inc. (NYSE:T)

Verum Partners LLC lifted its position in AT&T Inc. (NYSE:T) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,084 shares of the technology company’s stock after acquiring an additional 839 shares during the quarter. Verum Partners LLC’s holdings in AT&T were worth $370,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in T. Minot DeBlois Advisors LLC bought a new stake in AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new stake in AT&T during the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new stake in AT&T during the 4th quarter valued at about $28,000. Finally, YANKCOM Partnership bought a new stake in AT&T during the 4th quarter valued at about $30,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. TD Securities raised their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. Barclays raised their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Evercore ISI raised their target price on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Up 1.2%

T stock opened at $28.09 on Friday. The firm has a 50 day moving average of $27.32 and a 200 day moving average of $25.45. The stock has a market capitalization of $202.12 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

AT&T Profile

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.