Breakwater Capital Group Boosts Stock Position in AT&T Inc. (NYSE:T)

Breakwater Capital Group increased its stake in shares of AT&T Inc. (NYSE:T) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,432 shares of the technology company’s stock after purchasing an additional 2,662 shares during the quarter. Breakwater Capital Group’s holdings in AT&T were worth $588,000 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. Texas Capital Bank Wealth Management Services Inc boosted its stake in AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after buying an additional 598 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. JB Capital LLC grew its stake in shares of AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the period. Fortitude Family Office LLC grew its stake in shares of AT&T by 1.5% during the first quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock worth $732,000 after purchasing an additional 614 shares during the period. Finally, Connecticut Wealth Management LLC grew its stake in shares of AT&T by 3.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after purchasing an additional 620 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.9 %

T stock opened at $19.11 on Monday. 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 stock has a market capitalization of $137.02 billion, a P/E ratio of 10.27, a P/E/G ratio of 4.34 and a beta of 0.58. The business has a 50-day moving average of $17.57 and a 200-day moving average of $17.18. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.13.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.60 earnings per share. AT&T’s revenue was down .4% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued 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 5.81%. AT&T’s payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on T. Scotiabank boosted their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Oppenheimer reissued an “outperform” rating and issued a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $21.71.

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.