IFC Advisors LLC Buys New Stake in AT&T Inc. (NYSE:T)

by · The Cerbat Gem

IFC Advisors LLC bought a new stake in shares of AT&T Inc. (NYSE:T – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,472 shares of the technology company’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Xponance Inc. boosted its position in AT&T by 10.2% in the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after buying an additional 102,419 shares during the last quarter. WESPAC Advisors LLC boosted its position in AT&T by 55.4% in the 1st quarter. WESPAC Advisors LLC now owns 65,521 shares of the technology company’s stock valued at $1,853,000 after buying an additional 23,360 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in AT&T by 7.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 43,396 shares of the technology company’s stock valued at $1,163,000 after buying an additional 2,891 shares during the last quarter. MJP Associates Inc. ADV boosted its position in AT&T by 23.8% in the 1st quarter. MJP Associates Inc. ADV now owns 31,116 shares of the technology company’s stock valued at $880,000 after buying an additional 5,987 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in AT&T by 3.3% in the 1st quarter. Cerity Partners LLC now owns 1,669,519 shares of the technology company’s stock valued at $47,214,000 after buying an additional 53,695 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several research analyst reports. UBS Group reissued a “buy” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Tigress Financial boosted their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Oppenheimer boosted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, Evercore ISI boosted their price objective 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $29.12.

View Our Latest Stock Report on T

AT&T Trading Down 2.4%

Shares of T stock opened at $26.97 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The stock has a market cap of $194.07 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 3.45 and a beta of 0.42. The stock has a 50 day simple moving average of $27.82 and a 200 day simple moving average of $26.30. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19.

AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s payout ratio is presently 68.10%.

AT&T Company Profile

(Free Report)

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.

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