8,084 Shares in AT&T Inc. (NYSE:T) Bought by Kelly Financial Services LLC

Kelly Financial Services LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,084 shares of the technology company’s stock, valued at approximately $229,000.

Several other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in AT&T during the 4th quarter valued at $1,858,418,000. GQG Partners LLC raised its stake in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Northern Trust Corp lifted its holdings in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $28.32 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market capitalization of $203.74 billion, a PE ratio of 19.00, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a 50-day simple moving average of $27.35 and a two-hundred day simple moving average of $25.56. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s dividend payout ratio is presently 68.10%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research analyst reports. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their target price on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.