C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys 14,005 Shares of AT&T Inc. (NYSE:T)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in AT&T Inc. (NYSE:T) by 72.1% in the first quarter, Holdings Channel reports. The firm owned 33,441 shares of the technology company’s stock after buying an additional 14,005 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in AT&T were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of AT&T during the 4th quarter valued at about $11,554,000. Provence Wealth Management Group raised its stake in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after buying an additional 5,807 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares during the last quarter. Retireful LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $1,163,000. Finally, Brighton Jones LLC increased its stake in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after purchasing an additional 5,161 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on T shares. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective on shares of AT&T in a report on Wednesday. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Finally, The Goldman Sachs Group began coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.85.

AT&T Trading Down 0.3 %

T traded down $0.07 during trading hours on Wednesday, reaching $18.74. The company’s stock had a trading volume of 29,742,608 shares, compared to its average volume of 36,400,570. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.32. The stock has a market cap of $134.33 billion, a PE ratio of 10.06, a P/E/G ratio of 3.55 and a beta of 0.58. The business’s 50-day moving average is $17.87 and its 200-day moving average is $17.29. 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 announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm 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 $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 (DPR) is presently 59.68%.

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.