AT&T Inc. (NYSE:T) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC increased its position in shares of AT&T Inc. (NYSE:T) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,841 shares of the technology company’s stock after purchasing an additional 1,905 shares during the period. Cornerstone Wealth Group LLC’s holdings in AT&T were worth $4,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in AT&T in the fourth quarter valued at $25,000. Pineridge Advisors LLC acquired a new position in AT&T in the fourth quarter valued at $25,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the third quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in AT&T in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T traded up $0.36 during trading on Friday, hitting $19.11. 52,825,162 shares of the company were exchanged, compared to its average volume of 33,874,564. The firm’s fifty day moving average price is $17.57 and its 200 day moving average price is $17.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company has a market cap of $137.02 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 4.34 and a beta of 0.60. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.13.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.24 earnings per share 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. Investors 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 yield of 5.81%. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on T. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada reaffirmed 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 reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.71.

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.