Prosperity Consulting Group LLC Has $911,000 Holdings in AT&T Inc. (NYSE:T)

Prosperity Consulting Group LLC lifted its stake in AT&T Inc. (NYSE:T) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,740 shares of the technology company’s stock after buying an additional 5,048 shares during the period. Prosperity Consulting Group LLC’s holdings in AT&T were worth $911,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pineridge Advisors LLC bought a new stake in AT&T during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in AT&T during the 4th quarter worth approximately $25,000. First Pacific Financial grew its position in AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares during the last quarter. Ramirez Asset Management Inc. bought a new stake in AT&T during the 3rd quarter worth approximately $30,000. Finally, HighMark Wealth Management LLC grew its position in AT&T by 58.2% during the 1st quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after acquiring an additional 811 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of a number of research analyst reports. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. UBS Group restated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

AT&T Stock Up 0.5 %

Shares of T traded up $0.09 during midday trading on Friday, hitting $18.77. The stock had a trading volume of 30,727,771 shares, compared to its average volume of 31,550,982. The company has a 50 day simple moving average of $17.79 and a two-hundred day simple moving average of $17.25. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.32. The firm has a market cap of $134.58 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 4.24 and a beta of 0.58. 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 (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

AT&T Company 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.