AT&T Inc. (NYSE:T) Shares Acquired by Dover Advisors LLC

Dover Advisors LLC boosted its stake in AT&T Inc. (NYSE:T) by 101.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,410 shares of the technology company’s stock after buying an additional 11,816 shares during the period. Dover Advisors LLC’s holdings in AT&T were worth $662,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Everpar Advisors LLC increased its position in AT&T by 14.3% in the first quarter. Everpar Advisors LLC now owns 14,999 shares of the technology company’s stock worth $424,000 after buying an additional 1,875 shares during the period. Opal Wealth Advisors LLC increased its position in AT&T by 8.6% in the first quarter. Opal Wealth Advisors LLC now owns 14,569 shares of the technology company’s stock worth $412,000 after buying an additional 1,149 shares during the period. Capstone Wealth Management LLC bought a new position in shares of AT&T in the first quarter worth $201,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of AT&T by 9.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,628,232 shares of the technology company’s stock worth $74,326,000 after purchasing an additional 230,460 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its stake in shares of AT&T by 22.5% in the first quarter. Tritonpoint Wealth LLC now owns 12,892 shares of the technology company’s stock worth $365,000 after purchasing an additional 2,367 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on T. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Royal Bank of Canada increased their price target on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Barclays increased their price target on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Trading Down 0.5%

NYSE:T opened at $28.13 on Friday. 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 1-year low of $17.49 and a 1-year high of $29.03. The firm has a market capitalization of $202.43 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The stock has a fifty day simple moving average of $27.41 and a 200 day simple moving average of $25.63.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share 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 company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the business earned $0.55 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T’s payout ratio is presently 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.