PVG Asset Management Corp Takes $212,000 Position in AT&T Inc. (NYSE:T)

PVG Asset Management Corp acquired a new position in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,103 shares of the technology company’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vantage Financial Partners LLC raised its position in AT&T by 25.5% in the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after purchasing an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in AT&T by 4.1% during the 4th quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after acquiring an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC increased its position in AT&T by 4.5% in the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after acquiring an additional 1,194 shares during the period. Evoke Wealth LLC raised its stake in shares of AT&T by 14.8% during the fourth quarter. Evoke Wealth LLC now owns 28,681 shares of the technology company’s stock valued at $481,000 after acquiring an additional 3,693 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of AT&T by 309.1% during the fourth quarter. Eagle Asset Management Inc. now owns 603,211 shares of the technology company’s stock worth $10,122,000 after purchasing an additional 455,777 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.4 %

T opened at $21.99 on Tuesday. The firm has a market capitalization of $157.64 billion, a PE ratio of 11.82, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The company’s 50-day moving average is $20.21 and its 200 day moving average is $18.54.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.2 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 Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Cowen raised their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Oppenheimer lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, UBS Group restated a “buy” rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.38.

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.