AT&T Inc. (NYSE:T) Position Increased by Fragasso Group Inc.

Fragasso Group Inc. raised its position in shares of AT&T Inc. (NYSE:T) by 17.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,626 shares of the technology company’s stock after buying an additional 3,359 shares during the quarter. Fragasso Group Inc.’s holdings in AT&T were worth $361,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of T. Steward Financial Group LLC lifted its position in shares of AT&T by 159.7% in the first quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock worth $30,000 after purchasing an additional 960 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in shares of AT&T in the 1st quarter valued at $31,000. FWL Investment Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $31,000. Lakewood Asset Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $32,000. Finally, Sageworth Trust Co acquired a new stake in shares of AT&T in the 1st quarter valued at $32,000. 53.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their target price on shares of AT&T from $19.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, August 10th. Wells Fargo & Company cut their target price on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 20th. HSBC cut their target price on shares of AT&T from $21.00 to $19.00 in a research report on Monday, June 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Finally, Argus cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

AT&T Stock Up 1.1 %

Shares of NYSE:T opened at $15.23 on Friday. The company has a 50 day moving average price of $14.47 and a two-hundred day moving average price of $16.39. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $20.50. The company has a market capitalization of $108.88 billion, a PE ratio of -12.48, a PEG ratio of 1.85 and a beta of 0.64.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The company had revenue of $29.92 billion during the quarter, compared to the consensus estimate of $30.07 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.43 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 7.29%. The ex-dividend date of this dividend was Friday, July 7th. AT&T’s dividend payout ratio (DPR) is -90.98%.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.