Keynote Financial Services LLC Purchases Shares of 109,206 AT&T Inc. (NYSE:T)

Keynote Financial Services LLC purchased a new position in AT&T Inc. (NYSE:T) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 109,206 shares of the technology company’s stock, valued at approximately $1,922,000. AT&T comprises approximately 1.6% of Keynote Financial Services LLC’s holdings, making the stock its 10th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new position in AT&T in the 4th quarter worth approximately $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter worth $25,000. First Pacific Financial raised its holdings in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in AT&T during the fourth quarter valued at $39,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on T shares. Barclays raised their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada raised their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Trading Down 0.5 %

T traded down $0.10 on Friday, hitting $19.37. The company had a trading volume of 45,240,116 shares, compared to its average volume of 37,305,292. The company’s fifty day moving average price is $18.49 and its 200 day moving average price is $17.56. AT&T Inc. has a 1 year low of $13.89 and a 1 year high of $19.99. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $138.89 billion, a P/E ratio of 10.41, a PEG ratio of 3.28 and a beta of 0.58.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.73%. AT&T’s dividend payout ratio (DPR) is presently 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.