Aviance Capital Partners LLC Has $406,000 Position in AT&T Inc. (NYSE:T)

Aviance Capital Partners LLC lifted its stake in AT&T Inc. (NYSE:T) by 7.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,060 shares of the technology company’s stock after purchasing an additional 1,595 shares during the period. Aviance Capital Partners LLC’s holdings in AT&T were worth $406,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of AT&T during the fourth quarter worth $11,554,000. Provence Wealth Management Group boosted its position in shares of AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of AT&T by 250.3% during the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Retireful LLC bought a new position in shares of AT&T during the fourth quarter worth $1,163,000. Finally, Brighton Jones LLC boosted its position in shares of AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $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.

AT&T Price Performance

Shares of AT&T stock traded down $0.05 on Monday, reaching $19.06. 6,558,777 shares of the stock were exchanged, compared to its average volume of 36,648,391. The firm’s 50 day moving average is $17.57 and its 200-day moving average is $17.18. AT&T Inc. has a one year low of $13.43 and a one year high of $19.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The firm has a market cap of $136.66 billion, a PE ratio of 10.32, a P/E/G ratio of 4.34 and a beta of 0.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Scotiabank boosted their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Barclays raised shares of 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. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Monday. They issued a “buy” rating and a $22.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

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.