C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys 14,005 Shares of AT&T Inc. (NYSE:T)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in AT&T Inc. (NYSE:T) by 72.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,441 shares of the technology company’s stock after buying an additional 14,005 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in AT&T were worth $589,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group boosted its position in shares of AT&T by 10.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 44,267 shares of the technology company’s stock valued at $779,000 after acquiring an additional 4,121 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in AT&T by 51.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 198,102 shares of the technology company’s stock valued at $3,487,000 after buying an additional 67,142 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in AT&T in the first quarter valued at $165,000. Mutual Advisors LLC raised its stake in AT&T by 11.1% during the first quarter. Mutual Advisors LLC now owns 300,390 shares of the technology company’s stock worth $5,287,000 after acquiring an additional 30,101 shares in the last quarter. Finally, Diversified LLC lifted its holdings in shares of AT&T by 20.4% during the first quarter. Diversified LLC now owns 15,505 shares of the technology company’s stock valued at $273,000 after acquiring an additional 2,628 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on T shares. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Scotiabank boosted their target price on shares of AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 target price on shares of AT&T in a research report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and issued a $21.00 price objective on shares of AT&T in a research report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.85.

AT&T Stock Performance

NYSE:T traded down $0.07 during mid-day trading on Wednesday, hitting $18.74. 29,742,608 shares of the stock were exchanged, compared to its average volume of 36,400,570. The stock has a market capitalization of $134.33 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The firm’s 50-day simple moving average is $17.87 and its 200 day simple moving average is $17.29. 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 issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that AT&T Inc. will post 2.23 EPS 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 given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.92%. AT&T’s dividend payout ratio is currently 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.