Teamwork Financial Advisors LLC Has $409,000 Stake in AT&T Inc. (NYSE:T)

Teamwork Financial Advisors LLC lifted its stake in AT&T Inc. (NYSE:T) by 4.5% in the first quarter, HoldingsChannel.com reports. The firm owned 23,243 shares of the technology company’s stock after purchasing an additional 996 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in AT&T were worth $409,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in T. Frank Rimerman Advisors LLC bought a new position in AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC bought a new position in AT&T during the 4th quarter worth about $25,000. Ramirez Asset Management Inc. bought a new stake in AT&T in the 3rd quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in shares of AT&T during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on T shares. Barclays upgraded shares of 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. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Scotiabank lifted their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. 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 objective for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.73.

AT&T Price Performance

Shares of NYSE:T opened at $18.70 on Friday. The firm has a market cap of $134.08 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 4.24 and a beta of 0.58. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.32. The firm’s fifty day moving average is $17.75 and its 200-day moving average is $17.23. 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 (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.94%. 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.