Abacus Planning Group Inc. Buys 1,335 Shares of AT&T Inc. (NYSE:T)

Abacus Planning Group Inc. lifted its stake in shares of AT&T Inc. (NYSE:T) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,310 shares of the technology company’s stock after purchasing an additional 1,335 shares during the quarter. Abacus Planning Group Inc.’s holdings in AT&T were worth $772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Minot DeBlois Advisors LLC bought a new position in shares of AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC grew its stake in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on T shares. Oppenheimer boosted their price objective on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Scotiabank reiterated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Performance

NYSE:T opened at $28.09 on Friday. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $25.47. The company has a market capitalization of $202.12 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.00 and a beta of 0.41.

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

AT&T Dividend Announcement

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 was Thursday, April 10th. AT&T’s dividend payout ratio is currently 68.10%.

About AT&T

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.