Acorn Financial Advisory Services Inc. ADV lifted its position in shares of AT&T Inc. (NYSE:T) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,540 shares of the technology company’s stock after buying an additional 2,128 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in AT&T were worth $772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lion Street Advisors LLC bought a new position in shares of AT&T during the 1st quarter worth $27,000. Horan Securities Inc. purchased a new stake in shares of AT&T in the 1st quarter valued at $28,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of AT&T by 186.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock valued at $28,000 after acquiring an additional 623 shares during the last quarter. grace capital purchased a new stake in shares of AT&T in the 4th quarter valued at $39,000. Finally, Lionsbridge Wealth Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at $39,000. 53.84% of the stock is currently owned by institutional investors and hedge funds.

AT&T stock traded up $0.30 during midday trading on Friday, hitting $29.84. 14,629,466 shares of the stock were exchanged, compared to its average volume of 40,009,476. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The stock has a market capitalization of $214.67 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.73 and a beta of 0.72. The stock’s 50-day simple moving average is $30.59 and its 200 day simple moving average is $33.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.75.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01). AT&T had a return on equity of 13.27% and a net margin of 8.05%. The firm had revenue of $42.78 billion for the quarter, compared to analyst estimates of $44.75 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. AT&T’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts anticipate that AT&T Inc. will post 3.19 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.97%. The ex-dividend date is Thursday, July 9th. AT&T’s payout ratio is currently 58.26%.

Several analysts have recently commented on T shares. Guggenheim dropped their price objective on shares of AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Nomura lowered their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. JPMorgan Chase & Co. downgraded shares of AT&T from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $35.00 in a report on Wednesday, April 1st. Barclays reissued a “hold” rating and set a $33.00 price target on shares of AT&T in a report on Friday, April 17th. Finally, UBS Group reduced their price objective on shares of AT&T from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $35.94.

In related news, Director Geoffrey Y. Yang bought 6,754 shares of the stock in a transaction on Friday, April 24th. The stock was bought at an average price of $29.39 per share, with a total value of $198,500.06. Following the completion of the purchase, the director now directly owns 9,398 shares in the company, valued at approximately $276,207.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen J. Luczo bought 36,000 shares of the stock in a transaction on Wednesday, April 22nd. The shares were bought at an average cost of $29.38 per share, with a total value of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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