Larson Financial Group LLC Buys 6,726 Shares of AT&T Inc. (NYSE:T)

Larson Financial Group LLC raised its stake in AT&T Inc. (NYSE:TFree Report) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,882 shares of the technology company’s stock after buying an additional 6,726 shares during the quarter. Larson Financial Group LLC’s holdings in AT&T were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Callan Capital LLC bought a new position in AT&T in the first quarter valued at $238,000. General American Investors Co. Inc. grew its holdings in shares of AT&T by 9.0% in the 1st quarter. General American Investors Co. Inc. now owns 906,602 shares of the technology company’s stock valued at $15,956,000 after acquiring an additional 75,000 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of AT&T by 72.1% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 33,441 shares of the technology company’s stock valued at $589,000 after acquiring an additional 14,005 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in AT&T by 10.3% during the first quarter. Rehmann Capital Advisory Group now owns 44,267 shares of the technology company’s stock worth $779,000 after acquiring an additional 4,121 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in AT&T by 51.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 198,102 shares of the technology company’s stock worth $3,487,000 after acquiring an additional 67,142 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.3 %

T stock traded down $0.06 during mid-day trading on Wednesday, reaching $18.74. 29,826,922 shares of the company traded hands, compared to its average volume of 36,449,688. The stock has a market cap of $134.37 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 3.55 and a beta of 0.58. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.32. The firm’s 50 day moving average price is $17.87 and its 200 day moving average price is $17.29. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:TGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period in the prior year, the firm posted $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.23 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.92%. AT&T’s payout ratio is currently 59.68%.

Analyst Ratings Changes

A number of research firms recently commented on T. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of AT&T in a report on Wednesday. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Scotiabank increased their price objective on shares of AT&T from $22.50 to $23.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.85.

Check Out Our Latest Stock Analysis on AT&T

About AT&T

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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