Miracle Mile Advisors LLC Has $628,000 Holdings in AT&T Inc. (NYSE:T)

Miracle Mile Advisors LLC boosted its holdings in AT&T Inc. (NYSE:T) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,699 shares of the technology company’s stock after buying an additional 1,061 shares during the quarter. Miracle Mile Advisors LLC’s holdings in AT&T were worth $628,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kowal Investment Group LLC boosted its stake in shares of AT&T by 5.0% during the first quarter. Kowal Investment Group LLC now owns 64,394 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 3,043 shares in the last quarter. Diversified Trust Co boosted its stake in shares of AT&T by 12.5% during the first quarter. Diversified Trust Co now owns 147,249 shares of the technology company’s stock valued at $2,592,000 after purchasing an additional 16,355 shares in the last quarter. Aviance Capital Partners LLC boosted its stake in shares of AT&T by 7.4% during the first quarter. Aviance Capital Partners LLC now owns 23,060 shares of the technology company’s stock valued at $406,000 after purchasing an additional 1,595 shares in the last quarter. Roberts Wealth Advisors LLC boosted its stake in shares of AT&T by 6.1% during the first quarter. Roberts Wealth Advisors LLC now owns 82,700 shares of the technology company’s stock valued at $1,343,000 after purchasing an additional 4,753 shares in the last quarter. Finally, Breakwater Capital Group boosted its stake in shares of AT&T by 8.7% during the first quarter. Breakwater Capital Group now owns 33,432 shares of the technology company’s stock valued at $588,000 after purchasing an additional 2,662 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.73.

AT&T Trading Down 0.7 %

Shares of T stock opened at $18.98 on Tuesday. The company has a market cap of $136.09 billion, a P/E ratio of 10.20, a PEG ratio of 4.34 and a beta of 0.58. The stock has a 50 day simple moving average of $17.57 and a two-hundred day simple moving average of $17.18. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.32.

AT&T (NYSE:T) last released 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 firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. Research analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current 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 issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.85%. 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.