First Trust Direct Indexing L.P. Has $3.37 Million Stock Holdings in AT&T Inc. (NYSE:T)

First Trust Direct Indexing L.P. raised its stake in AT&T Inc. (NYSE:T) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,305 shares of the technology company’s stock after purchasing an additional 6,932 shares during the period. First Trust Direct Indexing L.P.’s holdings in AT&T were worth $3,367,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Frank Rimerman Advisors LLC bought a new position in AT&T during the 4th quarter worth $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T in the fourth quarter valued at about $25,000. Ramirez Asset Management Inc. bought a new position in AT&T during the third quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in AT&T by 35.3% in 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 purchasing an additional 606 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in AT&T in the 4th quarter valued at about $39,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Down 0.7 %

NYSE T traded down $0.14 on Thursday, reaching $18.68. The company had a trading volume of 19,462,997 shares, compared to its average volume of 33,098,884. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average is $17.71 and its 200 day moving average is $17.22. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32. The stock has a market capitalization of $133.94 billion, a P/E ratio of 10.04, a P/E/G ratio of 4.27 and a beta of 0.58.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.94%. AT&T’s payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $21.00 price target on shares of AT&T in a research report on Tuesday, June 25th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Monday, April 29th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday. They set a “buy” rating and a $22.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, 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. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.73.

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.