Teamwork Financial Advisors LLC Acquires 996 Shares of AT&T Inc. (NYSE:T)

Teamwork Financial Advisors LLC raised its position in shares of AT&T Inc. (NYSE:T) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,243 shares of the technology company’s stock after purchasing an additional 996 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in AT&T were worth $409,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of AT&T in the fourth quarter worth about $11,554,000. Provence Wealth Management Group raised its stake in AT&T by 55.8% in the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after buying an additional 5,807 shares in the last quarter. Clearbridge Investments LLC boosted its stake in AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 48,091 shares in the last quarter. Retireful LLC purchased a new position in AT&T during the 4th quarter worth $1,163,000. Finally, Brighton Jones LLC increased its holdings in shares of AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after acquiring an additional 5,161 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of T stock opened at $18.70 on Friday. The firm has a market capitalization of $134.08 billion, a P/E ratio of 10.04, a P/E/G ratio of 4.24 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company’s fifty day moving average price is $17.75 and its two-hundred day moving average price is $17.23. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.32.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.24 earnings per share 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. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.94%. AT&T’s dividend payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

T has been the topic of several recent research reports. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group began coverage on AT&T in a research note on Monday. They issued a “buy” rating and a $22.00 target price on the stock. Scotiabank raised their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

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.