Revolve Wealth Partners LLC Invests $205,000 in AT&T Inc. (NYSE:T)

Revolve Wealth Partners LLC bought a new position in shares of AT&T Inc. (NYSE:T) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,633 shares of the technology company’s stock, valued at approximately $205,000.

A number of other large investors have also modified their holdings of T. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T during the 4th quarter valued at $25,000. Ramirez Asset Management Inc. acquired a new stake in AT&T during the 3rd quarter valued at $30,000. Western Pacific Wealth Management LP acquired a new stake in AT&T during the 4th quarter valued at $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.0 %

NYSE:T opened at $18.76 on Friday. The business’s 50-day moving average is $17.47 and its two-hundred day moving average is $17.14. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.81. The firm has a market capitalization of $134.48 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 4.26 and a beta of 0.60.

AT&T (NYSE:T) last announced its 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. 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 for the quarter, compared to analyst estimates of $30.62 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on T shares. UBS Group reiterated a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Oppenheimer reiterated an “outperform” rating and issued a $21.00 target price on shares of AT&T in a report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.54.

AT&T Profile

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.